Europe open: Stocks mixed as investors eye Trump-Putin talks

(Sharecast News) - European stocks were mixed in early trade on Monday as investors eyed talks on Ukraine between US President Trump and Russia's Vladimir Putin.

At 0900 BST, the benchmark Stoxx 600 index was up 0.2%, while Germany's DAX and France's CAC 40 were down 0.2% and flat, respectively.

Donald Trump is due to meet Russian president Putin in Alaska on Friday 15 August to negotiate an end to the war.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "There are hopes that Trump and Putin's meeting in Alaska later this week will help push the Ukraine conflict to a resolution, which is helping calm concerns over energy supply disruptions. Threats of extra tariffs on India, which buys Russian crude, pushed up oil prices, but they are in retreat amid expectations the meeting could pave the way for the lifting of sanctions on Russia.

"As traders mull the effect on global growing in the tariff era, forecasts for lower energy demand are also acting as a drag on prices, with Brent Crude hovering around $66 a barrel, the lowest in two months. Gold prices have also retreated a little amid hopes for an easing of geo-political tensions. But there is still uncertainty hanging around the market, surrounding concerns about gold bar imports into the US being taxed."

In corporate news, Swiss pharmaceuticals firm Novartis gained after it said that its ianalumab drug candidate met the primary goal in two late-stage trials for the treatment of autoimmune disorder Sjoegren's disease.

Denmark's Oersted tumbled 25% after announcing plans to raise $9.4bn in a rights issue.

Salzgitter fell as the German steel producer reported a widening of its first-half losses and downgraded its full-year outlook.