European shares open higher as global trade holds spotlight

Orsted shares crashed more than 25% on Monday morning, after the wind farm developer said it plans a 60 billion Danish kroner ($9.4 billion) rights issue, following a “material adverse development” in the U.S. market.

The company said this turn of events left it unable to raise funds from a planned partial divestment of its Sunrise Wind project off the coast of New York.

Read more here.

— Chloe Taylor

European shares moved higher at this morning’s open. The pan-European Stoxx 600 was last seen up by 0.3%, with most sectors in positive territory.

London’s FTSE 100, up 0.3%, is leading gains among major regional bourses.

— Chloe Taylor

We’re coming to the end of Europe’s corporate earnings season — here’s what we’ve learned so far.

Research by Deutsche Bank shows full-year earnings estimates are down 10% since the final quarter of 2024. That being said, when it comes to guidance updates, the lender points out that more companies raised, rather than lowered, their guidance for the second quarter.

More than a quarter of firms upgraded their guidance in the most recent quarter, with only 17% downgrading their outlooks.

Those firms that have downgraded their guidance are focused in the chemicals and autos sectors, with tariffs and forex headwinds cited as the key driver of those cuts. Looking ahead, Deutsche Bank sees more reason for optimism, saying the trade deal between the EU and the U.S. provides more visibility, and that it expects firms to hike the lower end of their guidance.

— Jordan Butt

The end of the three-month trade truce between the U.S. and China is imminent.

Back in May, delegates from Washington and Beijing agreed on a deal that would suspend most tariffs for 90 days. Under the agreement, so-called “reciprocal” tariffs between the two countries were cut from 125% to 10%, with the U.S. also keeping its 20% duties relating to fentanyl imports in effect.

Investors are awaiting news on what’s next for the fraught trading relationship.

Asia-Pacific shares were muted on Monday with the impending tariff deadline influencing sentiment.

Read CNBC’s latest coverage on the U.S.-China deal.

— Chloe Taylor

Good morning from London and welcome to another week of live news on what’s moving European markets.

Regional shares look set to rise slightly at today’s open. Futures tied to the DAX and the CAC 40 were last seen trading 0.17 and 0.15% higher, respectively. Those tied to London’s FTSE 100 are currently hovering just above the flatline.

— Chloe Taylor