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European Shares Lackluster After Three Days Of Gains

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European stocks were moving in a narrow range on Monday as caution set in after three days of gains.

Oil prices advanced and the dollar steadied against its rivals amid a break for Presidents' Day holiday in the U.S., helping support underlying sentiment to some extent.

The pan-European Stoxx Europe 600 index was down about 0.1 percent at 380.31 in late opening deals after rising 1.1 percent on Friday to end higher for the third straight session.

France's CAC 40 index and the U.K.'s FTSE 100 were marginally lower, while the German DAX was moving up 0.1 percent.

Pan-European exchange operator Euronext lost more than 2 percent after publishing its FY 2017 results.

Acacia Mining shares fell almost 2 percent in London. The gold miner confirmed that it is in talks to sell stakes in some or all of its operations in Tanzania.

Consumer goods giant Reckitt Benckiser plunged 5.5 percent after its fourth-quarter sales came in below forecasts.

Tenaris rallied 3 percent and Outokumpu jumped 4 percent after the U.S. Commerce Department recommended hefty import curbs on steel and aluminum imports from China and other countries.

Swiss Re advanced 1.7 percent. The Financial Times reported that Japan's SoftBank is seeking to acquire 20 to 30 percent stake in the reinsurance company.

German industrial giant Siemens rose half a percent after unveiling plans to list its healthcare division in the first half of 2018.

by RTTNews Staff Writer

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