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Madrid - European equities were little changed amid speculation over the next Federal Reserve interest-rate increase after comments from an official signaled a raise was still possible this year.
The Stoxx Europe 600 Index added 0.2% at 09:21, after posting its biggest weekly loss in two months. Fed vice chairperson Stanley Fischer said in a Sunday speech that the US economy is close to meeting the central bank’s goals and an interest-rate hike in 2016 is still under consideration.
That pushed the dollar higher and commodities lower, sending European miners to the biggest decline among industry groups. Syngenta jumped 12% as China National Chemical received approval from US national security officials for its $43bn takeover of the Swiss chemical company.
The European equity gauge rebounded as much as 12% following the UK vote to leave the European Union, though its rise was halted last week. Speculation that the optimism had come too fast led to the biggest weekly drop since before the referendum as Italy battles a banking crisis, while faith in the European Central Bank’s ability to spur growth amid political turmoil dwindles.
