European stocks start third quarter with sturdy revenues

European stocks start third quarter with sturdy revenues

On Monday, European stocks started the fresh quarter with firm profits and Asian stocks kept to two-year profits, while the US dollar leapt from nine-month minimums as American Treasury yields reached their highest value since mid-May.

Crude prices edged down because American drilling activity dipped for the first time since January, although revenues were capped after a Reuters poll, which showed that last month OPEC output reached its year’s peak.

The pan-European STOXX 600 index that experienced its biggest month loss in 2017 on concerns over tightening monetary conditions, inched up 0.7% in early trade, driven by banks as well as basic resources firms.

France's CAC 40 index tacked on 0.8%, Spain's IBEX gained 0.9%, Italy's FTSE MIB surged 1%, while Britain's main benchmark FTSE 100 index leapt 0.3%.

Outside Japan MSCI's broadest index of Asia-Pacific stocks stood still, keeping to a stone's throw of a two-year high reached the previous week.

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