UK’s FTSE 100 closes at record high despite Europe losses; Volvo Cars flags $1.2bn impairment charge

European stock markets close slightly lower

Europe’s Stoxx 600 index closed 0.06% lower on Monday, after shaving off losses late in the day to finish at a session high.

Investors are still trying to assess whether U.S. President Donald Trump’s threat of 30% tariffs on European Union imports will be averted before the Aug. 1 deadline. During a press conference Monday, Trump said he was “open to talk” on trade, including with Europe.

The U.K.’s FTSE 100 has been a rare bright spot among European bourses, closing up 0.64% at 8,998.06 points to break its record high set last week. London has already negotiated a 10% blanket tariff rate with the White House, and a sharp drop in sterling against the U.S. dollar and euro on Monday helped boost some of the index’s internationally-oriented firms.

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