LONDON, June 3 | Fri Jun 3, 2011 3:13am EDT
LONDON, June 3 (Reuters) - European shares slipped early on Friday, extending this week's sell-off on global growth worries, and with investors cautious ahead of the monthly U.S. labour report.
At 0709 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.1 percent at 1,114.81 points, after falling 1.3 percent in the previous session to its lowest close in six weeks, as the U.S. economic recovery lost momentum.
Some bourses that were closed on Thursday fell, catching up with the decline in that session. Finland-based mobile phone maker Nokia (NOK1V.HE) was among the fallers, down 4.9 percent, extending losses from earlier in the week when it made a profit warning. "The lagging indicators are now catching up with the leading indicators from eight weeks ago," said Lothar Mentel, chief investment officer at Octopus Investments, which manages $4 billion.
"I'm surprised that the markets are surprised. There are not many catalysts to move stock markets higher. But equally they are supported by earnings and valuations. We will see rangebound trading." (Reporting by Brian Gorman)
LONDON, June 3 | Fri Jun 3, 2011 3:13am EDT
LONDON, June 3 (Reuters) - European shares slipped early on Friday, extending this week's sell-off on global growth worries, and with investors cautious ahead of the monthly U.S. labour report.
At 0709 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.1 percent at 1,114.81 points, after falling 1.3 percent in the previous session to its lowest close in six weeks, as the U.S. economic recovery lost momentum.
Some bourses that were closed on Thursday fell, catching up with the decline in that session. Finland-based mobile phone maker Nokia (NOK1V.HE) was among the fallers, down 4.9 percent, extending losses from earlier in the week when it made a profit warning. "The lagging indicators are now catching up with the leading indicators from eight weeks ago," said Lothar Mentel, chief investment officer at Octopus Investments, which manages $4 billion.
"I'm surprised that the markets are surprised. There are not many catalysts to move stock markets higher. But equally they are supported by earnings and valuations. We will see rangebound trading." (Reporting by Brian Gorman)
LONDON, June 3 | Fri Jun 3, 2011 3:13am EDT
LONDON, June 3 (Reuters) - European shares slipped early on Friday, extending this week's sell-off on global growth worries, and with investors cautious ahead of the monthly U.S. labour report.
At 0709 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.1 percent at 1,114.81 points, after falling 1.3 percent in the previous session to its lowest close in six weeks, as the U.S. economic recovery lost momentum.
Some bourses that were closed on Thursday fell, catching up with the decline in that session. Finland-based mobile phone maker Nokia (NOK1V.HE) was among the fallers, down 4.9 percent, extending losses from earlier in the week when it made a profit warning. "The lagging indicators are now catching up with the leading indicators from eight weeks ago," said Lothar Mentel, chief investment officer at Octopus Investments, which manages $4 billion.
"I'm surprised that the markets are surprised. There are not many catalysts to move stock markets higher. But equally they are supported by earnings and valuations. We will see rangebound trading." (Reporting by Brian Gorman)
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