• SA is being scammed!

    Former struggle heroes are now emptying state coffers to benefit foreign scammers, says Solly Moeng.

  • A burning issue

    The Knysna fires have shown that SA needs to be fire-aware and wary, says Mandi Smallhorne.

  • True economic freedom

    Harping on inequality and repressive rich people deflects attention from the real issues, say analysts.

All data is delayed
Loading...
See More

European shares hit by weak growth data

Feb 14 2013 18:55
Reuters
London - European shares ended lower on Thursday after investor sentiment was hit by weak regional growth data, although a bounce off technical support and some solid US data helped indexes close off their lows.

The FTSEurofirst 300 provisionally closed down 1.39 points at 1 164.22, hovering 12 points off 2-year highs, while a leading euro zone blue-chip index closed down 0.7% at 2 638.07.

European shares weakened after data showed the euro zone economy shrank 0.6% in the fourth quarter of 2012, but pared losses late on after bullish jobs data in the US sparked a recovery on Wall Street.

Wall Street edged back towards 5-year highs, while in Europe the Euro STOXX 50 found strong support at 2 600 both from prior peaks and the uptrend line from its 2012 low.

"Mixed economic data created uncertainty and we have had a lot of uptrends extending so it is only natural to see a little bit of caution, but there is some solid support preventing a sharper retracement" Dominic Hawker, technical strategist at Messels, said.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

WhatsApp group admins in SA could face jail time their jobs

Previous results · Suggest a vote

Loading...