Global shares muted as prospect of US cut fades

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Tue, 2019-07-09 01:00

LONDON: Global stocks were in a muted mood on Monday after strong US job gains tempered expectations the Federal Reserve will deliver a large rate cut, while Deutsche Bank shares fell after a major restructuring.

Sentiment was dampened by US investment bank Morgan Stanley’s decision to reduce its exposure to global equities due to misgivings about the ability of policy easing to offset weaker economic data.