European shares tumble, heading for third straight weekly sag
On Friday, European shares struggled, losing their grip on a potential weekly revenue, because market particiapnts waited for a new reading on growth firgures from the EU.
The Stoxx Europe 600 dropped 0.5%, trading at 331.32, with no sector going up. By the way, the index is now on track for its week’s 0.2% sag, which would indicate a third weekly drop.
Traders will take a look at the second reading of the first-quarter eurozone GDP a bit later. A preliminary reading unveiled growth of approximately 0.6% in the currency section.
Early on Friday, data disclosed that in the first quarter German GDP expanded at a rate of 0.7%. Obviously, it appeared to be better than the expected quarterly 0.5%.
The major European currency stayed stuck in the red right after the German news, down 0.4%, trading at $1.1336.
As for the evergreen buck, this number one currency looks quite happy, because some Fed members shared bullish comments on both US and rates growth on Thursday.