Semis drag, oil provides buffer for STOXX
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SEMIS DRAG, OIL PROVIDES BUFFER FOR STOXX
The STOXX 600 .STOXX is mostly flat in morning trading, ahead of the U.S. election on Tuesday and interest rate decisions from the Federal Reserve and the Bank of England on Thursday.
Switzerland's Bachem Holdings is up 5.8% after JPMorgan initiated coverage with an overweight rating.
At the top of the FTSE 350 is luxury group Burberry BRBY.L, last up 4.9% having risen as much as 8% after a media report that Italian luxury outerwear maker Moncler MONC.MI was considering a bid for the British luxury retailer.
Ryanair shares RYA.I are down 2.2% after results, with the budget airline trimming its passenger growth target for next year due to Boeing BA.N delivery delays, but it said fare weakness was moderating.
Semiconductor shares are falling in Europe, with BE Semiconductor BESI.AS, ASM International ASMI.AS and STMicroelectronics STMPA.PA down between 1.5%-3.1%, all flashing red near the bottom of the STOXX 600.
Together they are weighing on the tech basket SX8P which is the worst performer in Europe today, down 0.6%, while oil and gas stocks .SXEP are the best off, up 0.6%.
(Lucy Raitano)
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FOR MONDAY'S OTHER LIVE MARKETS POSTS
EUROPE BEFORE THE BELL: FUTURES UP AS PIVOTAL WEEK BEGINS CLICK HERE
DOLLAR JOLTED BY IOWA SURPRISE CLICK HERE
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