The pan-European Stoxx 600 was down by 0.5 percent, with the majority of sectors in the red. The euro continued to rise, trading at $1.1405 after the greenback dipped in U.S. trade as investors sensed that tightening monetary policy could soon extend beyond the U.S. to Europe and Canada. <\/p>\n
Basic resources was the top performing sector, after banks, up 0.9 percent. Rio Tinto moved up 2.8 percent on the European benchmark after shareholders agreed a $2.69 billion coal assets sale to China-backed Yancoal. <\/p>\n
HSBC, however, was in the top 2 of the European benchmark after Morgan Stanley raised its rating to 'overweight' from 'equal-weight', saying Brexit fears were overplayed and forecasting a capital surplus. The stock rose 4.9 percent to a 4-year high. <\/p>\n
The stock was additionally buoyed by a wider rally in banking stocks after the Federal Reserve agreed to give the 34 largest U.S. banks the green light for buyback plans. Deutsche Bank and Commerzbank and Barclays were all up more than 2 percent. Insurance firms also moved higher. <\/p>\n
Furthermore, shares of DS Smith rose nearly 6 percent hitting the top of the European benchmark after reports that its buying 80 percent of Interstate Resources. <\/p>\n
Meanwhile, U.S. markets opened mostly higher after the Federal Reserve cleared capital returns programs for the big banks. <\/p>\n
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More: The pan-European Stoxx 600 was down by 0.5 percent, with the majority of sectors in the red. The euro continued to rise, trading at $1.1405 after the greenback dipped in U.S. trade as investors sensed that tightening monetary policy could soon extend beyond the U.S. Continue reading
\nEuropean markets mixed as miners, banks rally; euro jumps; NATO meeting eyed - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"