US-EU meeting, fresh earnings in focus
Looking across the European benchmark, Swiss drug manufacturer Lonza lifted its outlook for the year, prompting shares to jump nearly 6 percent. Also Telefonica Deutschland rose about 9 percent after confirming it is on track to deliver its target for the year.
Deutsche Bank shares were 1.1 percent lower after reporting a net profit of 401 million euros ($468 million) during the course of its second quarter. Furthermore, Indivior shares fell as much as 13 percent after reporting a 24 percent drop in second-quarter pretax profit.
Shares of Fiat Chrysler also fell following comments from the company's new CEO that its outlook had been lowered. The announcement came only two hours after news that former chief Sergio Marchionne had passed away. Fiat shares were down by nearly 9 percent.
In the U.S., stocks opened lower as investors received the latest batch of corporate earnings. Dow-component Boeing reported better-than-expected earnings, but the stock fell more than 1.5 percent after the company issued full-year guidance that disappointed Wall Street.
Trump-Juncker meeting in focus
In June, the U.S. president threatened a 20 percent tariff on imported cars from the European Union. Last week, the EU’s Trade Commissioner Cecilia Malmstrom said in Brussels that if the U.S. imposed these levies, it would be “very unfortunate.” In addition, the commissioner announced that the EU was preparing its own list of countermeasures.