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Indices Consolidate Into the Friday Close

EQUITIES

Following the late-Wednesday sell-off, equity markets stabilised further into the Friday close, with ineffectual data and limited newsflow keeping a lid on volatility.

European equity markets were broadly higher, but gains were slight. Peripheral European markets outperforming, prompting a 0.6-0.8% rise in Italian, Spanish indices, while the FTSE-100 in the UK lagged, rising just 0.2%.

In the US, utilities and communication services traded well while industrials, financials dragged on the S&P500. Notable outperformers included video game makers Take Two and Activision Blizzard, while travel names including Carnival and Alaska Air traded very heavy.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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