LONDON: European stock markets
have pulled back as worries over Greece offset positive German data, analysts say, with focus also on the aviation sector as more details of the Alps plane crash emerged.
London’s benchmark FTSE 100 index shed 0.4 per cent to 6,990.97 points, while Frankfurt’s DAX 30 index fell 1.2 per cent to 11,865.32 points and the CAC 40 in Paris dropped 1.3 per cent to 5,020.99 points.
The euro climbed to $US1.0960 from $US1.0919 late in New York on Tuesday.
German business confidence rose to its highest level in eight months in March, as optimism continues to grow about the outlook for Europe’s biggest economy, the Ifo economic institute said Wednesday.
The Ifo institute’s closely-watched business climate index rose to 107.9 points this month, its highest level since July 2014, the think tank said in a statement.
“Despite the latest German Ifo business climate data beating expectations, this good news couldn’t inspire much growth in the DAX, or the rest of the eurozone, with the region appearing to be hampered by the euro taking back some of yesterday’s losses against the dollar alongside more worries about Greece’s financial situation,” Connor Campbell, analyst at Spreadex trading group, said.
