European Shares Mostly Lower Amid Global Trade Tensions

(RTTNews) - European stocks were broadly lower on Monday as U.S. President Donald Trump's decision to double tariffs on steel and aluminum imports along with rising Sino-U.S. tensions threatened to rekindle global trade tensions.

In economic releases, the downturn in euro zone manufacturing eased further in May, with the corresponding PMI rising to 49.40 from 49 points in April. Also, the downturn in British manufacturing was less steep than first feared in the month.

Elsewhere, U.K. house prices grew 0.5 percent on a monthly basis in May, in contrast to the 0.6 percent fall in April, according to data from Nationwide Building Society. Prices were expected to remain flat.

The pan European STOXX 600 was marginally lower at 548.21 after closing up 0.1 percent on Friday.

The German DAX dipped 0.3 percent and France's CAC 40 shed 0.4 percent while the U.K.'s FTSE 100 was up 0.1 percent, led by energy stocks.

Indivior dropped half a percent. The pharma firm said it will cancel its secondary listing on the London Stock Exchange, effective July 25.

Novartis added 1.3 percent as it announced upbeat interim analysis results from a Phase III study of its PSMA-targeted radioligand therapy Pluvicto.

GSK rose about 1 percent on news that the U.S. FDA has accepted to review the marketing authorization application for linerixibat.

British Airways owner IAG rose nearly 2 percent after launching the second trace of its share buyback program.

Atos fell 2.3 percent. The company said it has received an offer from the French state for the group's advanced computing assets.

Oil giants BP Plc and Shell rose about 1 percent each as oil prices jumped more than 2 percent on prospect of new U.S. sanctions against Russia.