UKX FTSE 100 Index

By Victor Reklaitis, MarketWatch

Investors worldwide await key Trump speech on Tuesday

European stocks showed little change on Monday, as drops by Deutsche Börse AG and London Stock Exchange Group PLC helped to hold back the region's main benchmark.

Investors appeared to be avoiding big bets ahead of a key speech Tuesday by U.S. President Donald Trump (http://www.marketwatch.com/story/trumps-speech-to-congress-to-touch-on-tax-cuts-health-plan-2017-02-26), who has been credited with sparking a global rally but has not yet detailed his plans for boosting the world's largest economy.

The Stoxx Europe 600 dipped by 0.1% to 369.63. The index last week rose to its strongest level since December 2015, but then finished the week down by 0.1% (http://www.marketwatch.com/story/european-stocks-under-pressure-as-basf-rbs-drop-2017-02-24).

Investors have been looking ahead to Trump's address to a joint session of Congress, said Michael Hewson, chief market analyst at CMC Markets UK, in a note Monday.

"For about three weeks now markets have been awaiting further details on the so-called 'phenomenal' tax plan that the president promised us," Hewson said.

Individual movers: Deutsche Börse and London Stock Exchange's (LSE.LN) shares fell by 4.8% and 3.4%, respectively, as their planned megamerger looked less likely (http://www.marketwatch.com/story/merger-between-london-stock-exchange-deutsche-borse-in-doubt-2017-02-26) after the LSE said late Sunday it wouldn't sell its majority-owned fixed-income trading platform in Italy to appease antitrust concerns over the deal.

Direct Line Insurance Group PLC (DLG.LN) was another big loser, sliding 6.3% after the insurer said a change to a key rate will cut into its profit (http://www.marketwatch.com/story/direct-line-pretax-profit-to-fall-on-rate-change-2017-02-27).

Associated British Foods PLC (ABF.LN) fell 1%. The company's shares had risen out of the gate after it projected a rise in sales (http://www.marketwatch.com/story/ab-foods-projects-rise-in-sales-at-primark-2017-02-27) at his clothing unit, Primark.

On the upside, Bunzl PLC (BZLFY) gained 2.3% after the supplier of disposable products reported a gain in full-year pretax profit (http://www.marketwatch.com/story/bunzl-profit-boosted-by-ma-lifts-fy-dividend-2017-02-27).

Economic news: A February reading on economic sentiment in the eurozone is due at 10 a.m. London time, or 5 a.m. Eastern Time.

The euro was trading at $1.0581, up slightly from $1.0561 late Friday.

Read: 6 ways Europe could trigger market turmoil in 2017 (http://www.marketwatch.com/story/6-ways-europe-could-trigger-market-turmoil-in-2017-2017-01-31)

National indexes: The U.K.'s FTSE 100 was up 0.4% at 7,274.03, while France's CAC 40 gained 0.2% to 4,854.69.

Germany's DAX 30 tacked on 0.2% at 11,830.21.

(END) Dow Jones Newswires

February 27, 2017 04:39 ET (09:39 GMT)

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