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Europe: Stocks pause after third week of gains

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[BENGALURU] European shares retreated on Friday, led by healthcare and media companies, at the end of a third week of gains dominated by signs that the world's big central banks are on the verge of another round of action to support growth. Read more at The Business Times.

Against that were German and French purchasing manager surveys which both topped expectations but were not enough to undo expectations that the European Central Bank and others will need to take action to support growth soon.

The benchmark index, is on course to recover almost all of its losses from a sharp sell-off in May, as the Federal Reserve and ECB signalled that they were ready to act to counter the impact of US-China trade tensions on a slowing global economy. Healthcare stocks led losses on the STOXX 600, down 1.4 per cent after three days of gains when it added 3 per cent.

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