European stocks waver as post-Brexit risk-rally fizzles

The stocks on the European bourses are seen trading directionless, swinging between gains and losses, as sentiment turns cautious heading into BOE interest rate decision due tomorrow.

Moreover, tumbling oil prices combined with increased demand for safe-havens such as bonds, yen and gold, weigh on the appetite for risk assets. Further, adding to the cautious tone prevalent in the markets, poor corporate news also dampened investors’ moods amid an almost data-empty EUR calendar today.

Markets also ignored the global risk-on rally, with Wall Street at record highs, as traders digest not so impressive Chinese trade data.

Currently, Germany's DAX 30 index trades muted around 9,966, while the UK's FTSE index rises +0.23% to 6,696. Among other European indices, the French CAC 40 index advances +0.31% to 4,345, while the pan-European Euro Stoxx 50 index trades marginally lower near 2,940 points.