LONDON — Stocks in Europe are sluggish for another day on Tuesday, as investors fail to find any clear impetus at the beginning of the second quarter of 2017.
Europe’s major bourses are largely in the green during early trade on Tuesday, with the biggest mover — Britain’s FTSE 100 — up by 0.5%. No individual stock is driving the index, but 96 of its 100 constituents are in positive territory as of 8.10 a.m. BST (3.10 a.m. ET).
South African founded, but London-headquartered wealth manager Old Mutual has lost 3% in early trade after the South African rand tumbled after the country suffered a downgrade from Standard & Poor’s.
Here’s the chart of the FTSE so far on the day:
Elsewhere on the continent, equities are up, but not in any significant way, as the scoreboard below illustrates:
Tuesday’s positive, if quiet, start comes after a late dip on Monday afternoon, with falls of as much as 0.8% for major bourses late in the day.
The morning’s moves “come in spite of a negative US close and a mixed bag from Asia overnight as fixed income rallied on event risk (Trump-Xi meeting, Fed minutes, US Non-Farm payrolls), all the while markets continue to re-evaluate the validity of the Trump trade,” Mike van Dulken and Henry Croft of Accendo Markets write in a morning email to clients.
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