LIVE MARKETS-Taking a breather
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TAKING A BREATHER
The early 2026 equity rally has taken a bit of a breather over the last 24 hours, with the STOXX 600 edging back from its record hit on Tuesday.
The pan-European benchmark is down 0.1% on Thursday, although it is still up over 2% in 2026 so far.
Britain's FTSE is down 0.3% and France's CAC .FCHI is 0.1%lower.
Germany's DAX .GDAXI slightly outperforms, helped by a rise in defence stocks after U.S. President Donald Trump said he plans to increase the military budget by over 50% in 2027.
Europe's aerospace and defence index .SXPARO hit a new record on Thursday, with BAE Systems BAES.L, Leonardo LDOF.MI, SAAB SAABb.ST and Rheinmetall RHMG.DE all rising by at least 2.5%.
Britain's retailers have had a tough morning with AB Foods ABF.L, Tesco TSCO.L and Greggs GRG.L all falling after results.
Here's your opening snapshot:
(Samuel Indyk)
EARLIER ON LIVE MARKETS:
EUROPE BEFORE THE BELL: PULLBACK SET TO CONTINUE CLICK HERE
TRUMP'S BIG TALK FALLS ON INVESTORS' DEAF EARS CLICK HERE
Where investors think the Fed is headed https://www.reuters.com/graphics/AUTOMATED-20260108/BENCHMARK-FED-RATE-FUTURES-MARKET-OUTLOOK/znvnqmxkxpl/chart.png
How global markets have performed over the past year https://www.reuters.com/graphics/AUTOMATED-20260107/GL-INDEX-COMPARISON-365D/mopabowdrva/chart.png
European stocks mixed, Wall Street futures lower 
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