European stocks closed mostly lower on Friday after U.S. President Trump said there was only a “50-50 chance” of making a trade deal with the EU ahead of his self-imposed deadline of August 1

European stocks look set to open on a buoyant note Monday after the United States announced the “biggest-ever” trade deal with the European Union, under which a 15% tariff would apply across the board, including for Europe’s crucial automobile sector, pharmaceuticals, and semiconductors.

U.S. President Donald Trump said the 27-nation EU bloc had agreed to purchase “$750 billion worth of energy” from the United States, as well as make $600 billion in additional investments as part of the deal.

Meanwhile, senior U.S. and Chinese negotiators are due to meet in Stockholm later today, with reports suggesting that the world’s two biggest economies could agree a 90-day extension to their trade war truce.

Elsewhere, key differences have emerged between Trump’s statements and Japan’s official version of their bilateral agreement.

The White House has published a fact sheet but further details of the implementation of the U.S.-Japan deal remain unclear.

U.S. stock futures inched higher ahead of a hectic week for markets, with the Federal Reserve’s interest-rate decision and earnings from several major tech companies awaited.

Asian markets were mostly higher, with Japan bucking the uptrend ahead of the Bank of Japan’s rate decision on Thursday.

Gold edged up in choppy trading as the dollar weakened on improved risk appetite. Oil prices climbed as concerns about a potentially painful trade war eased.

European stocks closed mostly lower on Friday after U.S. President Trump said there was only a “50-50 chance” of making a trade deal with the EU ahead of his self-imposed deadline of August 1.

The pan European STOXX 600 slipped 0.3%. The German DAX dipped 0.3% and the U.K.’s FTSE shed 0.2%, while France’s CAC 40 rose 0.2%.