Doha: European stock indices closed slightly lower at the end of trading Monday, as investors continue to assess the implications of the trade agreement reached yesterday (Sunday) between the United States and the European Union. The pan-European Stoxx 600 index closed down 0.2 percent, after hopes of a full tariff abolition evaporated.

According to Qatar News Agency, the index had risen as much as 1 percent earlier in the session, driven by relief after Washington and Brussels reached an agreement that includes 15 percent US tariffs on most European goods, a significant reduction from the 30 percent the United States had threatened.

Car stocks also suffered significant losses, falling 1.7 percent, despite the agreement reducing tariffs on the industry from 27.5 percent. Defense companies' shares in the index also closed down 1.3 percent.