$CVC
Investing.com - European equity indices slipped slightly lower Monday, starting the new week on a circumspect note ahead of geopolitical events that could impact the region.
At 03:05 ET (07:05 GMT), the DAX index in Germany dropped 0.1%, the CAC 40 in France slipped 0.4% and the FTSE 100 in the U.K. fell 0.3%.
U.K./EU relations, Ukraine peace in spotlight
The U.K. and the European Union are set to hold a summit in London on Monday, with British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen likely to announce a new defense and security pact as well as potentially easing mobility in the region as well as cutting red tape to do with trade.
Additionally, U.S. President Donald Trump will be holding a call with Russia’s President Vladimir Putin later Monday, after peace talks held in Turkey last week failed in their absence.
The European leaders, ahead of today’s summit, discussed the need for an unconditional ceasefire in the war on Sunday, and also talked about the use of sanctions if Russia fails to engage seriously in ceasefire and peace talks.
“President Putin must show he wants peace by accepting the 30-day unconditional ceasefire proposed by President Trump and backed by Ukraine and Europe," French President Emmanuel Macron said on X on Sunday.
Final EU CPI release for April due
The main economic data release in Europe Monday is the final April consumer price index for the eurozone.
This is expected to show that consumer inflation rose 0.6% on the month on April, an annual rise of 2.2%, which shouldn’t prevent the European Central Bank from cutting interest rates in June when the governing council next meets.
The European Central Bank has cut interest rates seven times in the past year, as the policy makers attempted to kick start a struggling economy.
Across the pond, a Congressional committee in the U.S. House of Representatives approved President Donald Trump’s sweeping tax bill on Sunday, setting it up for a House vote this week amid resistance from a group of Republicans.