European
stocks tumbled in volatile trading, capping their worst week since
August 2011, as a decline in energy companies outweighed
better-than-expected U.S. jobs data.
The
Stoxx Europe 600 Index fell 1.5 percent to 341.35 at the close, after
swinging between gains and losses for most of the day. The gauge rose in
early trading after China’s introduction of measures to stabilize its
markets boosted global equities, before sliding oil stocks dragged it
lower. A rally of as much as 0.9 percent after the U.S. report didn’t
last long.
The
Stoxx 600 slipped 6.7 percent this week, its worst weekly decline since
August 2011, as cuts to the yuan’s reference rate stoked concern that
Chinese growth is slowing more than previously forecast. The VStoxx
Index measuring volatility expectations in euro-area shares posted its
biggest weekly advance since April.
Source: Bloomberg
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