European Stocks Gain; Pound Hit by Brexit Discord: Markets Wrap
- Boris Johnson escalates threats to leave EU without trade deal
- Crude oil slumps on Saudi price cut; Nasdaq futures fall
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European stocks climbed as analysts speculated the market could be relatively resilient to the tech-led downdraft in the U.S. The pound sank on concern the U.K. is inching closer to a no-deal Brexit.
The Europe Stoxx 600 rose Monday with broad gains led by automakers. Oil extended its retreat below $40 a barrel as a price cut by Saudi Arabia signaled fuel consumption is wavering in key markets. Futures on the S&P 500 Index turned higher. The dollar gained while Treasury yields were little changed.