Investing.com -- British stocks edged lower at the open on Monday, beginning the week with investor attention focused on a U.K.-EU summit expected to pave the way for fresh trade deal, potentially benefiting British firms in sectors like defense, energy, and food.

As of 0710 GMT, the blue-chip index FTSE 100 fell 0.5% and the British pound gained 0.4% against the dollar to 1.33.

DAX index in Germany dropped 0.05%, the CAC 40 in France fell 0.4%.

U.K.- EU summit in focus

The United Kingdom (TADAWUL: 4280 ) and the European Union are scheduled to meet in London on Monday for a key summit, where British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen are expected to unveil a new deal.

Bloomberg reported in the early hours that negotiators from both sides had reached a preliminary agreement to strengthen bilateral relations ahead of the summit, citing people familiar with the matter.

Ryanair profit slips despite record traffic

Ryanair Holdings PLC (LON: 0RYA ) posted a drop in full-year profit after tax to €1.61 billion from €1.92 billion the previous year, even as it flew a record 200 million passengers.

The airline saw traffic rise 9%, but average fares slipped 7%, while total revenue climbed 4% to €13.95 billion.

Ryanair shares rose nearly 3% in morning trade.

Diageo rises on Q3 sales growth

Diageo PLC (LON: DGE ) shares climbed over 2% after the company reported a 2.9% rise in third-quarter net sales, reaching $4.4 billion for fiscal 2025.

The beverage giant delivered solid underlying results, with organic net sales up 5.9% year-over-year, driven by a 2.8% gain in organic volume and a 3.1% uplift from favorable price and mix effects.

Genuit Group sales jump in early 2025, shares climb

Genuit Group PLC (LON: GENG ) posted a 5.3% rise in like-for-like sales for the first four months of 2025, marking a strong start to the year.

The company’s latest performance reflects a notable improvement from the latter half of 2024, during which sales were up just 0.5% over the comparable timeframe.

Shares climbed more than 4.5% in morning trading.

(This story will be updated)