In European Equity Markets the pan-European Stoxx 600 ended 0.2 percent lower with most sectors in the red. Basic resources stocks were under pressure as trade concerns lingered. Heineken fell to the bottom of the European benchmark, down almost 6 percent, after reporting lower-than-expected results for its second quarter and after cutting its margin outlook. Europe’s tech sector was also on the back foot, down 1.2 percent amid concerns big technology companies are struggling to deliver on earnings. Software firm Sage was the biggest drag on the sector, down 5 percent.

 

In Currency Markets the U.S. dollar slipped against the euro on Monday, as the single currency recovered recent losses while most major currency pairs stuck to narrow trading ranges ahead of economic data and central bank monetary policy meetings this week. Among the majors, the greenback slipped the most against the euro, with the common currency 0.48 percent higher, as it recovered from its worst weekly performance against the greenback in six weeks. The dollar was little changed against the yen at 110.93 yen.

 

In Commodities Markets oil gained on Monday as investors remained cautious over the supply outlook, having gained nearly 5 percent in price since the middle of July. October Brent crude futures were last up 71 cents at $75.47 a barrel. The September contract expires on Tuesday. U.S. crude futures rose $1.37 at $70.06 a barrel. U.S. energy companies added three oil rigs in the week to July 27, the first time in the past three weeks that drillers have increased activity, data on Friday showed.

 

In US Equity Markets stocks fell on Monday as marquee technology companies continued to slide on growth concerns, with losses being curbed by a rise in energy firms on higher oil prices and in financials ahead of the Federal Reserve meeting. Six of the 11 major S&P sectors were lower, led by the technology sector’s 1.35 percent decline. The S&P 500 was down 0.28 percent, at 2,810.92 and the Nasdaq Composite was down 0.87 percent, at 7,669.82. Tyson Foods fell 5.6 percent, after the company cut its full-year profit forecast.

 

In Bond Markets yields on U.S. Treasury bonds were up on Monday, with the 10-year yield at a six-week high, as investors sold government bonds on the growing speculation that the Bank of Japan may adjust its ultra-loose monetary policy at its meeting this week. Governor Haruhiko Kuroda’s central bank said it bought 1.64 trillion yen ($14.77 billion) of Japanese government bonds on Monday to stem a rise in bond yields. The benchmark 10-year government bond approached 3 percent on Monday morning, hitting 2.99 percent, its highest since June 13.

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