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European equity markets were on track to open lower on Tuesday, reversing the previous session’s gains as the latest trade developments reignited concerns over US-China relations. China announced restrictions on five US units of Hanwha Ocean in retaliation for Washington’s investigations into Chinese maritime, logistics, and shipbuilding sectors. Still, US Treasury Secretary Scott Bessent said Monday that President Donald Trump remains on track to meet Chinese President Xi Jinping in South Korea later this month to help ease tensions. In Europe, investors will assess key data releases, including German inflation, UK unemployment, and Eurozone economic sentiment. On the corporate side, earnings reports from Ericsson and Givaudan are due. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures slipped about 0.5%.

欧洲股市周一上涨，斯托克50指数上涨0.5%，斯托克600指数上涨0.3%，受唐纳德·特朗普总统表示与中国的贸易关系“一切都会好起来”后矿业股反弹的支撑。斯托克600基本材料指数上涨2.4%，弗雷斯尼洛上涨9.5%，安托法加斯塔上涨5.1%，Aurubis上涨3.7%，英美资源集团上涨超过3%，特朗普的言论缓解了人们对中国商品大幅提高关税的担忧。半导体制造商ASML股价上涨3.2%，此前荷兰政府控制了中国企业Nexperia，以在贸易紧张局势加剧的情况下保护芯片供应。在银行业，劳埃德银行在额外拨备8亿英镑用于汽车金融不当销售补偿后上涨了近1%，使其总拨备达到20亿英镑。阿斯利康股价下跌0.3%，此前该公司同意降低美国药品价格以换取关税减免。在法国，新任命的总理Sebastien Lecornu在新的预算计划之前任命Roland Lescure为财政部长。

European stocks advanced on Monday, with the Stoxx 50 up 0.5% and the Stoxx 600 gaining 0.3%, supported by a rebound in mining shares after President Donald Trump said trade relations with China “will all be fine.” The Stoxx 600 Basic Materials Index rose 2.4%, with Fresnillo jumping 9.5%, Antofagasta 5.1%, Aurubis 3.7%, and Anglo American over 3%, as Trump’s comments eased fears of a steep tariff hike on Chinese goods. Semiconductor maker ASML climbed 3.2% after the Dutch government took control of Nexperia, a Chinese-owned firm, to safeguard chip supplies amid rising trade tensions. In banking, Lloyds rose nearly 1% after setting aside an additional £800 million for car finance mis-selling compensation, bringing its total provisions to £2 billion. AstraZeneca slipped 0.3% after agreeing to lower US drug prices in exchange for tariff relief. In France, newly reappointed Prime Minister Sebastien Lecornu named Roland Lescure as finance minister ahead of new budget plans.

欧洲股市本周开盘上涨，STOXX 50指数上涨0.9%，STOXX 600指数上涨0.6%，交易员为即将到来的财报季做好准备，并在很大程度上缓解了中美之间的贸易紧张局势。周五，华盛顿威胁要提高对中国的关税，以回应北京的稀土出口管制，美国总统特朗普周日表示，“中国的情况会很好。”与此同时，ASML和LVMH是计划于本周发布季度业绩的主要公司之一。在政治方面，法国总统马克龙宣布成立新内阁，重新任命勒科努总理。大型股大多走高，包括SAP（+0.7%）、LVMH（+1.2%）、ASML控股（+2.6%）和爱马仕（+1.8%）。此外，阿斯利康股价上涨0.7%，此前该制药商周五与美国政府达成协议，以折扣价向政府的医疗补助计划提供某些药物，以换取关税减免。

European stocks started the week in positive territory, with the STOXX 50 rising 0.9% and the STOXX 600 adding 0.6%, as traders geared up for the upcoming earnings season and largely brushed off trade tensions between the US and China. Following Friday’s threat by Washington to raise tariffs on China in response to Beijing’s rare earth export controls, US President Trump said on Sunday that the “China situation will all be fine.” Meanwhile, ASML and LVMH are among the major companies scheduled to release quarterly results this week. On the political front, French President Macron announced a new cabinet, reappointing Prime Minister Lecornu. Megacaps traded mostly higher, including SAP (+0.7%), LVMH (+1.2%), ASML Holding (+2.6%), and Hermès (+1.8%). Also, shares of AstraZeneca rose 0.7% after the drugmaker reached an agreement with the US administration on Friday to provide certain medicines to the government’s Medicaid program at discounted prices in exchange for tariff relief.

欧元徘徊在1.16美元左右，接近上周四触及的两个多月低点1.154美元，投资者权衡了法国的政治不确定性和美中持续的贸易紧张局势。在法国，两年来第五任总理Sebastien Lecornu于上周一辞职，周五才获得连任。他现在面临着一条狭窄的政治生存之路，因为他准备在周一的最后期限前提交预算法案草案。为了确保其在四分五裂的议会中获得通过，Lecornu正试图说服社会党和中右翼共和党人在关键的预算投票中弃权或提供有条件的支持。令人鼓舞的是，大多数议员反对解散议会，这表明可能存在通过预算的可行途径。与此同时，美国总统特朗普周日对中国采取了更为温和的态度，就在两天前，他威胁要对中国进口产品征收100%的关税，以回应北京方面收紧稀土出口管制的举措。

The euro hovered around $1.16, near its more than two-month low of $1.154 reached last Thursday, as investors weighed political uncertainty in France and ongoing US-China trade tensions. In France, Sebastien Lecornu— the country’s fifth prime minister in two years—resigned last Monday, only to be reappointed on Friday. He now faces a narrow path to political survival as he prepares to present a draft budget bill by Monday’s deadline. To secure its passage through a fractured parliament, Lecornu is seeking to convince both the Socialists and the center-right Republicans to either abstain or offer conditional support in the crucial budget vote. Encouragingly, a majority of deputies oppose dissolving parliament, suggesting a viable path to adopting the budget may exist. Meanwhile, US President Trump struck a more conciliatory tone toward China on Sunday, just two days after threatening 100% tariffs on Chinese imports in response to Beijing’s move to tighten export controls on rare earths.