European stocks fell from a two-month high as weakness in commodity producers resurfaced.
The Stoxx Europe 600 Index lost 0.4 percent to 376.04 at 8:09 a.m. in London. A gauge of miners dropped 1 percent after a two-day jump.
Europe’s benchmark gauge rallied the most since July in the final two days of last week as President Mario Draghi hinted that the European Central Bank may add to stimulus measures and the People’s Bank of China cut its benchmark lending rate and banks’ reserve requirements. That helped the Stoxx 600 break away from the tight range it had been trading in for two weeks.
Equities are rebounding after posting their biggest quarterly slump in four years. The Stoxx 600 advanced 8.5 percent in October through Friday, heading for its biggest monthly rally since 2009, with Germany’s DAX Index surging the most among developed markets, after being battered during the rout. As of Friday’s close, the Stoxx 600 was still 8.9 percent away from the record it reached in April.
Source : Bloomberg