European stocks slip from record high, Deutsche Bank drags

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 the fourth month of gain. The pan-European STOXX 600 index was down 0.1% by 0714 GMT, with shares in Frankfurt falling 0.2% and Paris dipping 0.1%.

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 the fourth month of gain.

The pan-European STOXX 600 index was down 0.1% by 0714 GMT, with shares in Frankfurt falling 0.2% and Paris dipping 0.1%. 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% 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% after a report said the U.S. Federal Reserve told the German lender it was failing to address persistent shortcomings in its anti-money-laundering controls.

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