The U.S. and Europe have a new trade deal that includes 15% import tariffs on many European goods, including cars. That’s good news for the European auto industry, but investors didn’t react happily in Monday trading.

Europe's major stock markets made modest gains while the euro fell in early trading on Monday as investors greeted a trade agreement between the United States and European Union with cautious relief.

European stock markets rallied on Monday, with the regional Stoxx 600 index climbing to a four-month high, as investors cheered the announcement of a framework trade agreement between the United States and the European Union.