周一，欧洲股市小幅下跌，市场继续评估欧盟贸易前景。欧元区STOXX 50指数下跌0.3%，收于5342点，泛欧STOXX 600指数下跌0.1%，收于546点。美国官员继续威胁对欧盟出口征收30%的关税，因为欧盟委员会在8月1日截止日期前继续谈判降低税率。与此同时，欧盟还表示，如果没有达成协议，将进行积极的报复，这可能会导致欧盟局势升级和物价上涨。奢侈品巨头领跌，爱马仕、路威酩轩集团和法拉利股价下跌1.6%至0.5%。与此同时，Stellantis股价下跌1.5%，尽管该公司表示，由于重组成本和美国关税，上半年亏损超过23亿欧元。此外，瑞安航空股价上涨5.7%，此前该公司公布其第一季度净利润翻了一番多。

European stocks recorded slight losses on Monday as markets continued to assess the outlook of trade in the EU. The Eurozone's STOXX 50 dropped 0.3% to close at 5,342 and the pan-European STOXX 600 fell 0.1% to 546. US officials maintained their threat of 30% tariffs on EU exports as the EU Commission continued to negotiate lower levy rates ahead of the August 1st deadline. In the meantime, the EU also signaled that aggressive retaliation would take place if no deal is agreed upon, risking escalation and higher prices in the bloc. Luxury giants led the losses in the Session, with Hermes, LVMH, and Ferrari dropping between 1.6% and 0.5%. In the meantime, Stellantis lost 1.5% despite signaling it lost over €2.3 billion in the first half due to restructuring costs and US tariffs. Also, Ryanair jumped 5.7% after reporting that its first-quarter net profit more than doubled.

欧元保持稳定，略高于1.16美元大关，投资者等待欧洲央行的政策决定，并密切关注欧盟-美国贸易发展。预计欧洲央行将在连续八次降息后于周四保持利率不变，政策制定者在美国关税高于预期和欧元走强对欧洲增长和通胀的影响存在不确定性的情况下采取观望态度。与此同时，欧盟特使正准备最早于本周会面，讨论在与美国总统唐纳德·特朗普达成无协议结果的情况下采取的应急措施，特朗普的关税立场似乎在8月1日的最后期限之前已经强硬。

The euro held steady just above the $1.16 mark as investors awaited the European Central Bank's policy decision and kept a close eye on EU-US trade developments. The ECB is expected to leave interest rates unchanged on Thursday after eight consecutive cuts, with policymakers adopting a wait-and-see approach amid uncertainty over the impact of steeper-than-expected US tariffs and a stronger euro on European growth and inflation. At the same time, EU envoys are preparing to meet as early as this week to discuss contingency measures in case of a no-deal outcome with US President Donald Trump, whose tariff stance appears to have hardened ahead of the August 1 deadline.

欧洲股市本周开盘谨慎，STOXX 50和STOXX 600均徘徊在平线附近，投资者密切关注持续的贸易发展，消化新一波企业盈利。欧盟和美国之间的贸易谈判尚未取得突破。虽然谈判仍在进行中，但有报道称，如果在美国从8月1日起对欧洲进口商品征收30%的关税之前未能达成协议，欧盟正在准备采取报复措施。在企业方面，Stellantis股价下跌近1.7%，此前该汽车制造商警告称，预计2025年上半年将出现23亿欧元的净亏损。这一消息对更广泛的汽车行业造成了压力，大众（-0.7%）、宝马（-0.5%）、雷诺（-0.2%）和梅赛德斯-奔驰（0.2%）也出现了亏损。相比之下，英国石油公司在宣布新任首席执行官后上涨了0.6%，而瑞安航空公司在报告其第一季度净利润翻了一番多后飙升了5%以上。

European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor ongoing trade developments and digest a fresh wave of corporate earnings. No breakthrough has yet been achieved in the trade negotiations between the EU and the US. While talks are still underway, reports indicate that the EU is preparing retaliatory measures should an agreement fail to materialize before the US imposes a 30% tariff on European imports from August 1st. On the corporate front, Stellantis shares fell nearly 1.7% after the automaker warned it expects to report a €2.3 billion net loss for the first half of 2025. The announcement weighed on the broader auto sector, with VW (-0.7%), BMW (-0.5%), Renault (-0.2%), and Mercedes-Benz (-0.2%) also posting losses. In contrast, BP rose 0.6% following the announcement of a new CEO, while Ryanair surged over 5% after reporting that its first-quarter net profit more than doubled.

欧洲股市周一开盘走弱，投资者对贸易不确定性仍持谨慎态度。美国总统唐纳德·特朗普最近宣布对来自欧盟的进口商品征收30%的关税，该关税将于8月1日生效。尽管欧盟表示希望在最后期限之前达成贸易协议，但尚未达成任何协议。美国商务部长霍华德·卢特尼克重申，8月1日是各国开始支付关税的“最后期限”，但他指出，谈判将在此期间继续进行。由于今天欧洲没有计划发布重大经济数据或收益，人们的注意力仍然集中在贸易发展上。在盘前交易中，欧洲斯托克50指数和斯托克600指数期货分别下跌0.3%和0.2%。

European equity markets were on track for a weaker open Monday as investors remained cautious over trade uncertainties. US President Donald Trump recently announced a 30% tariff on imported goods from the EU, set to take effect on August 1. While the EU has expressed hope for a trade deal before the deadline, no agreement has been reached. US Commerce Secretary Howard Lutnick reiterated that August 1 is a “hard deadline” for countries to begin paying tariffs, though he noted that negotiations will continue in the meantime. With no major economic data or earnings releases scheduled in Europe today, attention remains firmly on trade developments. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were down 0.3% and 0.2%, respectively.