Europe: Stocks slip from record high, Deutsche Bank drags

[BENGALURU] European stocks slipped from record highs on Monday in subdued trading due to holidays in major markets, but optimism about a swift economic recovery put the benchmark index on course for a fourth month of gain.

The pan-European Stoxx 600 index was down 0.1 per cent by 7.14am GMT, with shares in Frankfurt falling 0.2 per cent and Paris dipping 0.1 per cent.

UK and US markets are closed for a holiday, keeping trading activity muted across the board.

The Stoxx 600 was on course to record a 2.6 per cent rise in May as economies gradually reopened after lockdowns, while governments and central banks reiterated support to help the recovery.

Deutsche Bank slipped 1.7 per cent after a report said the US Federal Reserve told the German lender it was failing to address persistent shortcomings in its anti-money-laundering controls.

REUTERS