LIVE MARKETS-Rally runs out of steam, banks and renewables drag on STOXX
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RALLY RUNS OUT OF STEAM; BANKS AND RENEWABLES DRAG ON STOXX
The STOXX 600 .STOXX is in negative territory, down 0.1% after erasing earlier gains halting a fragile rally that had been fuelled by trade optimism.
Nevertheless European aerospace and defence names are continuing on a tear, with the basket up 1.5% .SXPARO and the likes of the UK's Rolls-Royce RR.L and QinetiQ .QQ.L as well as Sweden's Saab .SAABb.ST all up 2.2%-3%.
On the flipside Euro zone banks are flagging, down 0.8% as Deutsche Bank .DBKGn.DE slumps 3.1%.
Renewables stocks are also taking a beating with Vestas Wind VWS.CO, EDP Renovaveis EDPR.LS and Oersted ORSTED.CO off 6.1%, 3.7% and 2.4% respectively.
In the UK, retailer WH Smith .SMWH.L is sliding 5.1% after the company closed its sale of its high street business to Modella Capital for lower proceeds.
(Lucy Raitano)
MONDAY'S EARLIER POSTS:
EUROPE BEFORE THE BELL: A RALLY ON SHAKY GROUNDS? CLICK HERE
RISK FLOWS AS TRADE TALKS UNCLOG CLICK HERE
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