(Bloomberg) — European stocks were steady as they headed for their longest streak of monthly gains since March 2024.
The Stoxx Europe 600 Index was little changed by 10:50 a.m. in London, with energy shares outperforming, while travel stocks were among the laggards. The benchmark is on track to gain 0.6% in November, it’s fifth-consecutive monthly advance.
Volumes were subdued Friday after a technical outage at the Chicago Mercantile Exchange disrupted US trading. Delivery Hero SE rose 13% on reports the company is facing pressure from several large shareholders to conduct a strategic review. EasyJet Plc shares climbed as much as 3.1% to a six-week high after Bernstein upgraded the stock to outperform from market-perform.
European stocks have been buoyed by resilient earnings and economic growth, handing investors returns of 13% since the start of the year. Gains resumed this week following a dip from a record high reached earlier this month.
“November could end more gently than feared, but without high volume,” due to the outage, said Guillermo Hernandez Sampere, head of trading at asset manager MPPM. “Some market participants will take advantage of possible differences in prices, but the majority will pause trading for risk reasons until the issues are resolved.”
Among other movers, Burberry Group Plc shares fall as much as 4.6% after JPMorgan cut its recommendation on the stock to underweight from neutral.
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