Profit-taking hits US stocks, Europe shrugs off recession

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 94%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

US markets were hit by a bout of profit-taking on Friday, while in Europe investors largely shrugged off data confirming the eurozone is back in recession.

Weaker-than-expected Chinese numbers also dented sentiment, with Asia’s main equity indices closing out the week lower.

A bit of profit-taking appeared to be setting in on Friday in the rally which has driven Wall Street’s main share indices to all-time highs in recent weeks. Germany was the major drag on growth in the January to March period, with exports unable to overcome a steep drop in demand by confined consumers, analysts said.“The economic recovery was always likely to be uneven in nature, and this morning’s growth figures highlighted exactly that,” said IG analyst Josh Mahony, noting that confinement measures pushed Germany into a contraction while France grew modestly.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines