LIVE MARKETS-Defence drags, STOXX briefly hits new peak

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DEFENCE DRAGS, STOXX BRIEFLY HITS NEW PEAK

A drop in defence related stocks was the biggest drag on the European open on Monday, offsetting moderate gains in defensive healthcare plays, and a surge in basic resources driven by an extended rally in silver and copper.

The STOXX 600 .STOXX wavered around parity and after hitting a fresh record high at the open, the region-wide headed south and was last down 0.1%. The commodity heavy FTSE 100 .FTSE did a little better, and was broadly flat.

Fresnillo FRES.L, a top silver miner, surged 5% at one point in London to a new record high as silver breached $80 per ounce for the first time. Though the precious metal retreated later. France's Abivax ABVX.PA also topped the charts extending a recent surge due to takeover speculation.

Defence names Leonardo LDOF.MI, Rheinmetall RHMG.DE, Saab SAABb.ST were among the top fallers, down over 2%, as investors pondered the chances of a Ukraine peace deal, following weekend meetings between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy.

Here is your opening snapshot:

(Danilo Masoni)

BEFORE THE BELL: EUROPE SET TO EXTEND YEAR-END GAINS CLICK HERE