European Stocks Tread Water After Gaining in Best Week Since May

-- European stocks marked a subdued start to Monday following last week’s sharp rally, as investors awaited further clues on the US economy from the Federal Reserve’s Jackson Hole economic symposium.The Stoxx Europe 600 Index was flat by 8:12 a.m. in London, after posting the strongest weekly gain since May. The basic resources and auto sectors outperformed, while technology stocks were the biggest laggards.

Europe’s benchmark index is recovering after sliding since mid-July, as investors await further economic data for clues on the health of the global economy. An improvement in technical indicators also suggests investors are back in risk-on mode. “Markets remain in wait and see mode about the US economy, but investor sentiment is improving,” said Panmure Liberum strategist Joachim Klement. European business activity data due this week “will give markets more insights on how fast Germany and France are slowing down, creating new macro worries for markets.”US Stock Futures Rise

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