In European Equity Markets the pan-European Stoxx 600 closed 0.66 percent lower with all sectors bar oil and gas in negative territory. The sluggish volumes were due to markets being closed in the United States, as well as Greater China and Mumbai. Household goods was the worst performing sector, down 1.36 percent. Reckitt Benckiser reported higher fourth-quarter sales and raised its expectations for 2018 after going through tough times recently. However, analysts see only a moderate potential for operating margin growth. As a result, the stock closed the day’s trading at the bottom of the European benchmark, down 7.5 percent. Autos closed 1.29 percent lower. It was dragged lower throughout the day by news that carmaker Daimler may have used software to cheat in diesel-emission tests in the U.S. The stock fell over 2 percent.

In Currency Markets the US dollar enjoyed a small rebound on Monday as investors bought back the greenback after its plunge to three-year lows, although analysts said any recovery looked set to be brief with dollar bears still out in force. The U.S. currency has weakened this year as expectations that central banks will start raising interest rates in other parts of the world erode its perceived yield advantage. The dollar measured against a basket of currencies rallied 0.3 percent to 89.342. The index is off a low of 88.253 hit last week, which was the weakest level for the U.S. currency since December 2014. Against the euro, the dollar rose 0.3 percent to $1.2386. Versus the yen, the dollar gained 0.2 percent to 106.55, but remained down more than two percent this month and close to 15-month lows touched last week.

In Commodities Markets oil prices hit their highest level in nearly two weeks on Monday, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising U.S. production tempered gains. Brent crude was up 34 cents at $65.18 a barrel, after rising to an 11-day high of $65.45 a barrel earlier in the session. U.S. West Texas Intermediate crude for March delivery was up 46 cents at $62.14 a barrel, after earlier gaining as much as 1.4 percent to its highest since Feb. 7. The U.S. oil rig count, an indicator of future production, rose by seven to 798, its highest since April 2015, according to a weekly report from General Electric’s Baker Hughes unit. Speculators also cut net long U.S. crude futures and options positions in the week to Feb. 13 by the most since late August.

In US Equity Markets trading activity is closed due to Presidents’ Day holiday.

In Bond Markets Greek government bond yields fell on Monday after a ratings upgrade from Fitch highlighted improving sentiment towards the country, while Italian bonds came under pressure from jitters ahead of next month’s election. Bond yields across the euro zone were broadly higher in the absence of any fresh drivers with overall trade subdued due to holidays in Asia and the United States. Greece’s 10-year bond yield was down 5 basis points at 4.23 percent, pulling the gap over top-rated German bond yields to 351 bps at one stage and close to its tightest in a week. Sentiment has been boosted by expectations that Greece will exit its latest bailout in August and get debt relief from its international creditors. Outside Greece, 10-year bond yields in the euro area were 2 to 6 basis points higher.