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Sector Update: Financial Stocks Advance Monday Afternoon
Sector Update: Financial
European stock markets narrowed their losses as traders Buy defensive Stocks.
European stock markets narrowed their losses and closed roughly flat, as traders bought more defensive stocks like chemicals and food to offset the decline in Technology stocks. The Stoxx Europe 600 Index closed down 0.1%. British American Tobacco rose after UBS Group analysts upgraded their rating. Chemical stocks increased as JPMorgan strategists indicated that it was time to become more Call, as the industry's destocking has nearly concluded. Meanwhile, Technology stocks were hit after the startup DeepSeek released a cheaper AI model. The chips used by DeepSeek are not as advanced as those of competitors, surrounding.
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UBS Said to Cut Hundreds of Swiss Jobs Amid Credit Suisse Integration
Update: Market Chatter: UBS Cuts Hundreds of Jobs in Switzerland