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Market Update: European Stocks Little-Changed After Monday’s Rally
European equity markets traded near the flat line on Tuesday, following Monday’s rally, ahead of the key Eurozone consumer confidence flash survey for June later in the day. At the same time, investors tried to focus on prospects of solid economic growth in Europe rather than near-term rise in US interest rates. ECB President Christine Lagarde said on Monday that a recovery in global demand and a faster-than-anticipated increase in consumer spending could result in a stronger economic recovery, while rising US consumer prices would have only a limited impact in the Euro Area and any tightening of wider financing conditions would be premature. Elsewhere, two US central bank officials explained their support for an earlier withdrawal and a third said signaled it was too early for any turn in policy. [/s2If]
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