Market presses pause on STOXX rally
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MARKET PRESSES PAUSE ON STOXX RALLY
The STOXX 600 .STOXX is ticking down 0.3%, on track for its biggest daily drop so far in May - partly a reflection of how many days of gains it has had in recent weeks.
It is the second day of negative trading, following an almost unbroken 2-week rally that saw the index rise 3.8% to fresh record highs.
Euro zone banks .SX7E are the best off sector, up 0.4%. In last place is construction and materials .SXOP, down 1.2% amid a 6.8% drop in Swedish heating tech company Nibe Industrier NIBEb.ST.
The top loser of the Stoxx 600 is Belgian speciality chemical company Azelis AZE.BR, down 12%, while French reinsurance company Scor .SCOR.PA is not far behind, down 11.4% after a Q1 profit miss.
Swedish consumer goods company Lagercrantz LAGRb.ST is the top mover, up 8.9% after reporting Q4 results.
Luxury group Richemont is rising 5.2% despite posting Q4 results showing a slowdown in sales.
Shares in HSBC .HSBA.L were 0.4% after a source said its largest shareholder Ping An Asset Management will maintain its stake in the bank.
(Lucy Raitano)
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FOR FRIDAY'S OTHER LIVE MARKETS POSTS
FUTURES SIGNAL DROPS AS TRADERS AWAIT EURO INFLATION CLICK HERE
MARKETS PONDERS RATES PATH, SHARES LISTLESS CLICK HERE
STXE 600 PR INDEX https://reut.rs/3K4QkAN
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