Frankfurt - European stocks were little changed, paring earlier gains, as investors turned cautious before Thursday’s UK vote on European Union membership.
Miners were among the best performers on the Stoxx Europe 600 Index, with Anglo American and ArcelorMittal rising at least 1.1% as industrial metals climbed. Statoil ASA led a gauge of oil companies higher as crude advanced.
The Stoxx Europe 600 Index added 0.1% at 09:41, trimming an advance of as much as 0.5%.
Shares capped their biggest three-day advance in almost 10 months yesterday after surveys showed the UK campaign to stay in the EU gained ground. While newer polls were split on the outcome, betting shops are placing the odds for “Remain” at about 80%, according to Oddschecker data. They see only a one-in-four chance of a secession. The FTSE 100 Index gained 0.1%.
The Stoxx 600 began a rebound on Friday as Brexit concern eased amid a suspension in campaigning following the murder of Labour Party lawmaker Jo Cox. The equity gauge has struggled to maintain momentum after rallying 16% from a February low to an April 20 high. It’s still down 2% in June, on track for its first monthly drop in four.
Among stocks moving on corporate news today, Merlin Properties Socimi gained 5.2% after agreeing to a merger with Metrovacesa to create the largest Spanish property rental group.