European stocks fell Monday morning with weak data out of China looking set to slow Friday's surge on the back of a partial trade accord between Washington and Beijing.
The pan-European Stoxx 600 slipped 0.7% at the start of the session, with basic resources stocks shedding 1.5% to lead losses as all sectors and major bourses traded in negative territory.
The U.S. agreed to postpone an increase in tariffs from 25% to 30% on at least $250 billion of Chinese goods, which had been scheduled for Tuesday. President Donald Trump said that the first phase of a trade deal will be drawn up within the next three weeks, and will see China purchasing between $40 billion and $50 billion of U.S. agricultural products.
Back in Europe, investors will be monitoring a big week for Brexit. The Queen's Speech, Britain's official state opening of Parliament, is scheduled for noon London time on Monday and will set out the U.K. government’s plans under Prime Minister Boris Johnson.
Source : CNBC