European shares inched lower on Monday as investors awaited further details on the U.S.-China trade negotiations, while also looking ahead to some key corporate earnings and the U.S. Federal Reserve's policy meeting later this week. The pan-European STOXX 600 index (.STOXX), opens new tab was down 0.1%, as of 0709 GMT. Other regional indexes were trading in positive territory, barring France (.FCHI), opens new tab which fell 0.3%.
In a TV interview aired on Sunday, Trump said he would not attempt to remove Fed Chair Jerome Powell but repeated calls for lower interest rates and called the Chair a "stiff". The Fed is widely expected to leave rates steady on Wednesday following a solid March payrolls report. Trump on Sunday said the U.S. was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal. Optimism around a potential de-escalation of trade tensions between the U.S. and China has boosted markets in recent days. Dutch-listed shares of Shell fell 2.8% after a report said the oil major is working with advisers to evaluate a potential acquisition of rival BP (BP.L), opens new tab.
Novo Nordisk (NOVOb.CO), opens new tab rose 1.1% after the Danish drugmaker said the U.S. Food and Drug Administration has accepted its marketing application for an oral version of its weight-loss drug Wegovy and will decide in the fourth quarter. Erste Group (ERST.VI), opens new tab jumped 5.8% after the Austrian lender said it has acquired 49% of Polish-based Santander Bank Polska (SPL1.WA), opens new tab and 50% of Santander TFI, following an agreement with Spanish bank Banco Santander SA (SAN.MC), opens new tab. London markets were shut on Monday for a bank holiday.
