EUROPE MARKETS: European Stocks Pause For Breath After 8-day Winning Run
By Sara Sjolin, MarketWatch
Pound slides after disappointing construction data
European stock markets traded in right ranges on Tuesday, taking a breather after an eight-day winning streak, as investors absorbed developments in Catalonia after the weekend's chaotic independence vote.
The Stoxx Europe 600 index was marginally higher at 390.22, trading around its highest level since mid-June.
On Monday, the pan-European index rose 0.5% (http://www.marketwatch.com/story/european-stocks-rise-for-8th-straight-session-as-euro-slides-after-violent-catalonia-vote-2017-10-02), boosted by a weaker euro , after the Catalan referendum descended into violent clashes (http://www.marketwatch.com/story/chaos-clashes-and-hundreds-of-reported-injuries-as-catalans-go-to-the-polls-in-vote-that-could-split-spain-2017-10-01) between voters and police. Catalan leaders have said they are considering making a declaration of independence (http://www.marketwatch.com/story/catalonia-leader-with-90-approval-we-have-the-right-to-be-independent-2017-10-01) this week, given around 90% of the voters in Sunday's ballot supported a split from Spain.
But Spain's central government has declared the vote illegal, and Justice Minister Rafael Catalá has warned that Madrid will do "everything possible" to prevent a secession.
Read:EU headed for new crisis? Analysts fear political turmoil after violent Catalonia vote (http://www.marketwatch.com/story/eu-headed-for-new-crisis-analysts-fear-political-turmoil-after-violent-catalonia-vote-2017-10-02)
The euro on Tuesday was largely flat against the dollar, fetching $1.1737 compared with $1.1734 late Monday in New York.