PARIS: After fluctuating between gains and losses throughout the day, European stocks ended with advances. But not those in Germany.
The Stoxx Europe 600 Index rose 0.3 percent to 387.26 at the close of trading in London, recovering from a decline of as much as 0.6 percent triggered by a report that showed manufacturing in the New York region unexpectedly shrank. Volume of Stoxx 600 shares changing hands was a third lower than the 30-day average, a factor that might have contributed to the volatility.
“U.S. data were a little softer than people had hoped and that suggests there is increasing nervousness on whether the U.S. is strong enough to pull the global economy,” said John Haynes, head of research at Investec Wealth & Investment. “We’re going to get fluctuations, but the U.S. will come through the current less-wonderful patch pretty well.”
European shares started the day with gains, with the Stoxx 600 rising as much as 1.1 percent. Automakers led the rally, before sliding as the U.S. report raised concern that the global economy isn’t strong enough to withstand a Federal Reserve interest-rate increase. Germany’s DAX Index lost as much as 1.5 percent before ending the day down 0.4 percent.
