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European Stocks Snap Back, Market Hopeful Italian Election can be Delayed
The end of the US equity three-day advance yesterday weighed on Asia Pacific shares today. Most benchmarks fell. Better than expected trade data helped Thailand buck the trend. A firmer tone emerged in the European morning, and the Dow Jones Stoxx 600 has recouped yesterday's losses and more. It was led higher by consumer discretionary, energy, and industrials. US shares are also trading firmer today, and the S&P 500 is also retracing a good part of yesterday's 0.8% decline. European bond yields are 2-3 bp firmer, though the possibility that an Italian election is delayed until after the 2020 budget is helping ... (full story)