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European stocks flat at start of holiday-shortened week
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European stocks flat at start of holiday-shortened week
Mar 25, 2024 1:55 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

March 25 (Reuters) - European stocks were little changed

at the start of holiday-shortened week as investors assessed

recent big gains spurred by dovish views from major central

banks.

The STOXX 600 index slipped 0.02% on Monday,

hovering just below record highs hit last week. Gains in travel

and leisure stocks were offset by losses in retailers

.

Goldman Sachs raised its 2024 year-end target for the STOXX

600 to 540 from 510, citing possible improvement in economic

growth and monetary policy easing across central banks. The

latest target implies a nearly 6% upside from Friday's close of

509.64.

Among big movers, shares of Direct Line tumbled

12.3% after Belgian insurer Ageas said it did not

intend to make a further offer for the British home and motor

insurer after it turned down two previous proposals.

Swedish real estate group SBB jumped 12.4% after

it said it would buy back debt at a discount of 60% compared

with the debt's original value, in an attempt to calm investors'

nerves as it scrambles to tackle a multi-billion debt pile.

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