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 (Bloomberg) -- European stocks declined on Monday and U.S. equity futures drifted lower as investors awaited a fresh batch of corporate earnings and some key central bank meetings this week. Crude oil rose following supply disruptions in Libya and Iraq.The Stoxx Europe 600 Index fell, dragged down by retailers and banks. Contracts on the main American equity benchmarks were modestly lower, though U.S. markets are closed Monday for the Martin Luther King Jr. holiday. Equities advanced in most Asian markets, though several saw thin volumes thanks to the American holiday. European bonds were mixed and range-bound, while the pound slipped ahead of U.K. jobs data due tomorrow.Brent crude jumped back above $65 a barrel as unrest hit key production regions. Iraq temporarily stopped output at an oil field on Sunday, while Libyan production almost ground to a halt after armed forces shut down a pipeline.Jitters in the oil market appear to be sapping some optimism after recent bullishness, spurred by the signing of the initial Sino-American trade deal and economic indicators from China and the U.S. providing signs the global outlook is improving. Investors now turn their attention back to corporate earnings after solid results from the biggest banks on Wall Street. Key central bank meetings in Europe and Japan are also on the agenda."We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they're turning up, and the phase one trade deal," Anne Anderson, head of fixed
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 Asian shares held near a 20-month
top on Monday even as investors took some money off the table
following a strong run recently, while oil jumped to more than a
one-week high after two large crude production bases in Libya
began shutting down.
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 (Bloomberg) -- A top-performing Morgan Stanley fund is betting on cash-rich consumption-focused stocks in Asia, especially China, to manage risks in market cycles this year.Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The Wall Street firm's Asia Opportunity Fund, which focuses on equities in the region excluding Japan, returned 44% in the past year, beating 99% of its peers, according to data compiled by Bloomberg. The portfolio focuses on undervalued companies with low debt or net cash on their balance sheets, many of which are found in consumer sectors, said Kristian Heugh, who has been co-managing the fund since its inception in 2016."We seek to protect investors' capital by focusing on high quality companies with sustainable competitive advantages and purchasing them at a discount to our estimate of intrinsic value," Heugh said. "We remain vigilant in selling names approaching our estimate of their intrinsic value and redeploying that capital in what we believe are the next big ideas."China is the $1.5 billion fund's largest-weighted country, accounting for 57.7% of assets as of end-December. Heugh said the world's second-largest economy will remain a key focus this year despite its slower growth in 2019.Asian consumer stocks provide "high returns on capital, low leverage and quality growth prospects," Hong Kong-based Heugh said. The region offers "the highest ratio" of high-quality companies that have generated both 15% return on invested capital and 1
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 Asian shares held near a 20-month top on Monday even as investors took some money off the table following a strong run recently, while oil jumped to more than a one-week high after two large crude production bases in Libya began shutting down.
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 It is a shortened trading week and investors will be focused on earnings and the World Economic Forum taking place in Davos, Switzerland.
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 Investors in CSX Corporation (NASDAQ:CSX) had a good week, as its shares rose 4.1% to close at US$76.40 following the...
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