LIVE MARKETS-STOXX falters as rate-sensitive tech names drag, oil lifts

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STOXX FALTERS AS RATE-SENSITIVE TECH NAMES DRAG, OIL LIFTS

Europe's STOXX 600 .STOXX has kicked off the week down 1%, dragged lower by rate-sensitive tech names, while a rise in oil and gas stocks is helping cap further losses.

Traders are still digesting Friday's strong U.S. jobs report, which has dampened bets on upcoming Fed rate cuts and sent the dollar and price of oil higher.

Indeed oil .SXEP is the best performing sector in Europe today, surging 1.2%. On the flip side, a basket of European tech shares .SX8P is down 2%, led by Europe's biggest loser Comet Holdings COTNE.S which is off 5.5%.

At the top of the index is London-listed sports betting and gaming company Entain ENT.L, whose shares are surging 5.8% after an upbeat full-year profit forecast.

The next biggest percentage gainer is French in-vitro diagnostics firm Biomerieux BIOX.PA which is up 4.8% after news that it will acquire its Norwegian counterpart SpinChip.

At the bottom of the FTSE 350 is British recruiter PageGroup PAGE.L whose shares fell 4.6% after it issued its second profit warning in six months on Monday.

European airlines are down across the board, with International Consolidated Airlines ICAG.L down 3%, Wizz Air WIZZ.L down 2.7% and Easyjet EZJ.L down 2.5%.

(Lucy Raitano)

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