Set for lower open; EDF, Sanofi, Heineken to report

The pan-European Stoxx 600 was 0.2 percent lower with almost every sector in the red. Basic resources were the worst performers as trade concerns lingered and Asian stocks struggled during Monday’s session.

Several analysts claim the agreement reached last week between President Donald Trump and Europe over trade links is vague. Shares of BMW were marginally lower on Monday following news that it is set to become the first major carmaker to hike prices on U.S.-built vehicles it exports to China as the implications of the ongoing global trade war start to trickle through to consumers.

Market sentiment was also impacted by earnings after poor tech results in the U.S., which led U.S. stocks to close lower on Friday. Shares in the tech sector were also down by 0.7 percent in Europe, with Sage off by 2 percent.

In other earnings news, Heineken shares dropped above 5 percent on Monday after reporting lower-than-expected results for its second quarter and after cutting its margin outlook. The company was at the bottom of the benchmark.

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