Stocks Europe Slide, Bonds and Yen Gain as Risks Pile Up

Shares in Europe followed Asian counterparts lower as investors eyed risks from Turkey to North Korea. Treasuries advanced with the dollar, while oil dropped with most commodities.

U.S. equity-index futures also declined as optimism over U.S.-China trade talks faded together with prospects for President Donald TrumpA?ai??i??ai???s historic summit with North KoreaA?ai??i??ai???s leader. Concerns over TurkeyA?ai??i??ai???s financial-market stability drove the lira to successive record lows and weighed on emerging-market currencies. The yen rose as traders sought a haven, while equity benchmarks from Hong Kong to Sydney declined.

The Stoxx Europe 600 Index declined 0.3 percent at 395.91 as of 8:07 a.m. London time.

Source : Bloomberg

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European stocks score 4-month closing high, but Italy dents gain

European stocks scored an almost four-month closing high on Monday, after an easing in U.S.-China tensions fueled hopes a trade war between the worldA?ai??i??ai???s two largest economies can be averted.

But a slump in stocks in Italy proved a drag, as an antiestablishment, euroskeptic coalition made progress in forming a new government.

The Stoxx Europe 600 index climbed 0.3% to close at 395.87, nudging its highest close since Jan. 30, according to FactSet data.

ItalyA?ai??i??ai???s FTSE MIB index underperformed the rest of the region, falling 1.5% to 23,092.38. The move came as news reports said the 5 Star Movement and the League were ready to present their prime minister candidate.

The U.K.A?ai??i??ai???s FTSE 100 index climbed 1% to 7,859.17, logging a record closing high.

FranceA?ai??i??ai???s CAC 40 index rose 0.4% to 5,637.51. GermanyA?ai??i??ai???s stock market was closed for Whit Monday.

The euro fell to $ 1.1760 from $ 1.1771 from on Friday. The pound fell to $ 1.3412 and traded around its lowest level since late December.

Traders in Europe were weighing the encouraging news in the U.S.-China trade spat against concerns over political developments in Italy.

Source: Marketwatch

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Asian Stocks Gain; Dollar Rises With U.S. Yields

Asian stocks gained Monday as U.S. equity futures jumped in the wake of news that the Sino-American trade war is on hold for now. Treasury yields nudged higher, taking the dollar with them.

The MSCI Asia-Pacific Index gained 0.3 percent. Equity benchmarks rose in Japan, Hong Kong and South Korea as S&P 500 Index contracts gained 0.6 percent. Stocks were little changed in Australia. Oil futures climbed. U.S. Treasury Secretary Steven Mnuchin said the U.S. was A?a��A�putting the trade war on hold,A?a��A? amid progress in talks with China. Stocks had closed lower Friday and Treasury yields dropped under 3.1 percent amid mixed signals on trade.

Investors this week will be keeping a close eye on the minutes of MayA?a��a�?s Federal Reserve meeting, to be released Wednesday, along with preliminary purchasing manager indexes in the euro zone. Geopolitics remains in focus as South KoreaA?a��a�?s president visits Washington to discuss North Korea and Brexit negotiations resume in Brussels.

Elsewhere, the euro steadied near a five-month low as ItalyA?a��a�?s two populist leaders agreed on a prime minister and are set to propose a cabinet as early as Monday. Gold edged lower.

Source : Bloomberg

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