European stocks closed lower Monday as traders tracked developments in a crucial week for Brexit, while details of the partial trade accord between the U.S. and China remained hazy.
The pan-European Stoxx 600 closed was down around 0.5% at 389.69, with basic resources stocks shedding over 2% to lead losses as almost 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.
Source : CNBC