European stocks close mixed amid tariff uncertainty; Ryanair profits soar 128%

European stock markets traded cautiously awaiting clarity over U.S. tariffs on the European Union.

The Stoxx Europe 600 index closed lower by 0.1%. Regionally, the U.K.’s FTSE 100 was up 0.2%, Germany’s DAX closed flat and France’s CAC 40 fell 0.3%.

London-listed companies issued 59 profit warnings in the second quarter of the year, professional services giant EY said in a new report published Monday.

It marked a 20% rise from a year ago.

Of those profit warnings, 46% cited policy change and geopolitical uncertainty as a major hamper to their outlook. That’s the highest level recorded for this cause since the EY-Parthenon report began more than 25 years ago — and a major rise from the 4% of U.K.-listed firms who issued geopolitics-related profit warnings in the second quarter of 2024.

UK consumer sentiment suffered its biggest fall in nearly 3 years last month, according to a survey from Deloitte, which highlighted growing concerns around persistently higher inflation and a slowing labor market.

Official data last week showed Britain’s unemployment rate rose to 4.7% in the three months to May, its highest since 2021.