European shares are mainly in the red in the mid-afternoon Monday, but edging higher, as investors await the outcome of the meeting between US President Donald Trump and Russian leader Vladimir Putin.
Investor sentiment was also likely hit by confirmation that China’s GDP growth eased to 6.7% in the second quarter.
By 1425 BST, the EUROSTOXX 600 was down 0.11%, while the EUROSTOXX 50 had lost 0.01%. The regional bourses were a little mixed. The German DAX was 0.26% higher, however, the French CAC fell 0.20% while the Spanish IBEX edged up 0.03%.
All eyes on Trump-Putin meeting
US President Trump’s meeting with Putin Monday is being closely monitored by investors and analysts alike, as they await the outcome of the face-to-face talks.
This latest meeting in Europe follows a four-day trip to the UK which was marred by a newspaper interview in which Trump appeared to snub UK PM Theresa May’s Brexit plans.
The first official meeting between Trump and Putin in Finland could help ensure a warmer relationship between the two countries at a time when Trump is making waves with other partners.
Indeed, China has filed a complaint against the US with the WTO following Trumps threats of an additional $200 billion worth of trade tariffs on Chinese goods.
As the closely watched summit concludes, there were some stock movers of note.
Deutsche Bank shares rose 6.55% to hit €10.24 as the German investment Bank’s Q2 earnings figures came in better-than-expected.
Finish elevator firm Kone shares were 2.28% higher at €44.90 amid reports it has held talks with ThyssenKrupp over a potential merger.
Indivior shares, meanwhile, surged 21.22% to £353.00 after a US judge granted the UK drug maker a preliminary injunction against Dr. Reddy’s over an opioid dependence drug.
However, shares in Finnish telecoms firm Elisa slid 3.56% to €36.28, following a ratings reduction to ‘Neutral’ from ‘Overweight’ from JP Morgan.