European shares struggled to carry forward a rally from Japan and the U.S., where the S&P 500 index notched its best week in five years. Oil advanced while the dollar steadied against major peers.
The Stoxx Europe 600 index was little changed, as auto and consumer stocks slipped. That contrasts with Asia, where equities are building on their best week since September 2016, with Japanese stocks closing higher after the yen’s rally faded. U.S. equity futures rose, German bunds retreated and the euro edged higher with the British pound.
European markets are the center of investor attention on Monday as U.S. stocks and Treasuries take a break for Presidents’ Day holiday and markets in Hong Kong and China are closed for the Lunar New Year. The continent’s equity gauge has trailed its American counterpart since a global selloff earlier this month partly due to a jump in the euro.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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