European stocks paused back as investors awaited fresh catalysts after last week’s push close to a record high. US markets are shut for the Presidents’ Day holiday.
The Stoxx Europe 600 dipped following the previous week’s 1.4% surge that took the gauge to within four points of its January 2021 high. Basic resources stocks led declines after iron ore tumbled, while the technology sector also underperformed. Defensive sectors, including utilities and health care, posted gains. S&P 500 futures were flat, while contracts on the Nasdaq 100 edged higher.
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