European stocks swing from gains to losses

On Tuesday European stocks swung from a gain to a loss and back again and Asian equities nudged lower as investors sought to put the technology selloff behind them before a series of potentially market-moving events this week. The dollar rose with Treasury yields and the pound erased an advance.

Trading was mixed and muted in equities across both Europe and Asia following Monday’s selloff, which was sparked by a series of negative tech stories including Facebook Inc.’s data issues and a fatal accident involving an Uber Technologies Inc. self-driving car. Still, both the European gauge and U.S. stock futures reversed declines, and contracts for the Nasdaq 100 eventually edged higher. Metals were once again under pressure, but Bloomberg’s broader index of raw materials increased.

Investors are struggling to rediscover their bullishness in the wake of the tech setbacks and with the Federal Reserve rate decision a day away. Reports that the White House plans to impose tariffs worth as much as $60 billion on Chinese products as part of a battle over safeguarding intellectual property added to the sense of caution. It would be the latest phase of President Donald Trump’s protectionist agenda and threatens to increase market fears of a trade war.

The Stoxx Europe 600 Index rose 0.4 percent as of 7:39 a.m. New York time. Futures on the S&P 500 Index climbed 0.2 percent. The MSCI Asia Pacific Index dipped 0.2 percent to the lowest in more than a week. The U.K.’s FTSE 100 Index jumped 0.5 percent, the biggest increase in more than a week. The MSCI Emerging Market Index increased 0.3 percent.

West Texas Intermediate crude gained 1.2 percent to $62.83 a barrel, the highest in three weeks. Gold dipped 0.3 percent to $1,312.31 an ounce, the weakest in 11 weeks.

This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.