EUROPE

STOCKS slipped from a seven-week high yesterday, with commodity producers falling and Greek shares rising, before the release of minutes from the Federal Reserve’s last policy meeting.

The Stoxx Europe 600 index slipped less than 0.1 percent to 339.15 points at the close of trading.

Commodity producers lost 1.6 percent as a group for their biggest decline in more than a month. Rio Tinto Group dropped 2.1 percent. Anglo American fell 2.9 percent.

But Greek and Spanish stocks had some of the biggest advances. Piraeus Bank climbed 7.2 percent, and Eurobank Ergasias gained 6.6 percent. Abengoa rallied for a third day, up 9.5 percent.

“So far, markets are still pretty relaxed and convinced that the Fed won’t do much damage,” Ralf Zimmermann at Bankhaus Lampe in Germany said.

“Whether this conviction will hold true all the time in upcoming months remains to be seen.” – Bloomberg