LIVE MARKETS-STOXX nudges up, but stuck in range
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STOXX NUDGES UP, BUT STUCK IN RANGE
The extension of the U.S.-China trade truce lifted market sentiment on Tuesday, helping European stocks start the day in positive territory. However, gains were limited ahead of key U.S. inflation data that could influence expectations for potential Fed rate cuts, and possibly lead to equity sector rotations.
Commodity stocks topped sectoral gainers, as oil and copper prices steadied on the back of the trade truce. Oil .SXEP and mining shares .SXPP rose around 1% each, while banks .SX7P climbed 0.6%, reaching their highest since early September 2008.
Broad gains in industrials added support, while tech .SX8P lagged, weighed down by a 1.4% drop in software heavyweight SAP SAPG.DE.
The region-wide STOXX 600 .STOXX index edged up 0.3%, remaining well within the narrow 4% trading range that has confined its moves over the past three months.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPEAN FUTURES EDGE UP CLICK HERE
TRUCE EXTENDED, ECONOMIC DATA NEXT CLICK HERE
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