LIVE MARKETS-New record highs, with a bit of red
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NEW RECORD HIGHS, WITH A BIT OF RED
European shares and defence stocks attempted to build on Monday's strong run but shortly after reaching fresh record highs at the cash market open, they lost some steam.
With the temptation to take some profit hard to resist, some red signs appeared on the screens but, overall, indices and stocks remained well supported.
The region-wide STOXX 600 .STOXX index was trading in line with yesterday's close, after hitting a new record at 556.8 points. The DAX .GDAXI fell 0.1% and the FTSE .FTSE was a modestly lower on the day.
The STOXX Aerospace and Defence .SXPARO index gained 1% to a new lifetime peak, although some of its constituents briefly turned negative following stellar gains the day before. BAE Systems BAES.L, for example, was unchanged.
Banks .SX7P kept rising, up 0.9% to a fresh 17-year high. Chemicals .SX4P and tech .SX8P were weak spots.
(Danilo Masoni)
EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPE NEAR PEAKS, DEFENCE IN DEMAND CLICK HERE
ARMS STOCKS SOAR AHEAD OF UKRAINE PEACE TALKS CLICK HERE
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