FX.co ★ European Stocks Lack Direction

On Tuesday, the STOXX 50 and STOXX 600 indices maintained a stable position as investors closely monitored the second day of trade negotiations between the United States and China. Despite the lack of significant breakthroughs in the initial round of discussions, optimism was evident among U.S. officials regarding the talks' progression. In the United Kingdom, fresh labor market statistics indicated a slowdown, amplifying expectations that the Bank of England might consider reducing borrowing rates later in the summer. On the corporate landscape, Societe Generale (down 1.7%), BNP Paribas (down 1.1%), and Banco Santander (down 1%) were among the day's weakest performers. Conversely, Novo Nordisk experienced a surge in its share price, exceeding a 3% increase, spurred by a Financial Times report that activist hedge fund Parvus Asset Management is acquiring a stake in the company, just as the pharmaceutical giant embarks on a search for a new CEO following a recent decline in its stock value.