European stocks slow down after sharp gains

By FXstreet.com | August 26, 2014 AAA

FXStreet (Córdoba) - European stocks were mixed Tuesday after a steep rally the previous day that was propelled by prospects of further stimulus measures from the European Central Bank.



The Stoxx Europe 600 was flat at 340.48 in early trade. The index rallied 1.1% yesterday as investors price in further monetary stimulus by the ECB. As for country-specific indexes the UK FTSE rose 0.37%. The Germany’s DAX 30 dropped 0.39% and the France’s CAC 40 shed 0.08%. Spain’s Ibex 35 added 0.12% while Italy’s FTSE MIB dropped 0.31%.



In the macroeconomic domain, there is no data scheduled for the Eurozone and focus will be on the US, where durable goods orders and consumer confidence are due.



In the currencies market, the US is taking a breather near multi-month highs, after not-so-dovish Yellen speech in Jackson Hole triggered a rally across the board.



As for commodities, gold gained 0.89% to $1,290 an ounce while crude oil advanced 0.10% to $93.44 a barrel.



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