Rising yields weigh, banks edge up
STOXX 600 down 0.1%
Real estate leads declines
Asian stocks rally
Wall St futures fall
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RISING YIELDS WEIGH, BANKS EDGE UP
European shares got off to a muted start on Monday as traders pared back bets for rate cuts in the U.S., driving bond yields higher and putting pressure on rate sensitive sectors like real estate .SX86P and utilities .SX6P.
Their declines dragged the region-wide STOXX 600 .STOXX a touch below parity, down 0.1%, offsetting mild gains across banks .SX7P. A gauge of luxury plays .STXLUXP rose 1%, suggesting some optimism over Chinese stimulus measures.
Among top gainers were LVMH LVMH.PA, up 1.6%, along financial stocks such as Amundi AMUN.PA and Commerzbank CBKG.DE. Heidelberg Materials HEIG.DE rose on bets it could sell its Indian cement operations.
In London, the FTSE 100 .FTSE was down 0.1%.
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