Earnings weigh on European stocks, sterling lower before Brexit votes

Shares of UBS led gains among banking stocks .SX7P after Switzerland’s biggest bank reported a smaller than expected loss in quarterly profit.

“This week is an important week for earnings,” said Andrew Milligan, head of global strategy at Aberdeen Standard Investments. “We’ve seen a lot of talk on Brexit and trade talks and the new news is the earnings and the signal they give for the future. We’ve broadly priced in that earnings will be slightly positive for the year, but everyone is seeing how monetary policy stabilises the situation.”MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added a modest 0.

U.S. President Donald Trump sounded upbeat on a China deal on Monday, while White House adviser Larry Kudlow said tariffs on Chinese goods scheduled for December could be withdrawn if talks go well. Ten-year government bond yields across the euro zone were down 1 basis point on the day DE10YT=RR, NL10YT=RR, FR10YT=RR. Germany’s 10-year yield was at -0.35%, near three-month highs.

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