10th April 2015
Shares stumped currencies in trading on Friday, as the FTSEurofirst 300 share index leapt to its highest level since 2000. European equities followed the trend set by Asian shares overnight, after Japan’s Nikkei reattained the 20,000 level for the first time in 15 years.
On the other hand, currencies declined on a mix of news. The British pound slumped to a five-year low on a round of disappointing data, which came in much lower than expected.
Meanwhile, the euro was pressured by further Grexit fears. The single currency is now 2.7 per cent lower over the course of the week, and at its lowest since mid-March.
The latest data from the UK highlighted weak growth in the industrial and construction sectors in February, adding to recent signs that the British economic recovery is slowing.
However, chief economist at IHS Global Insight, Howard Archer, noted the data from the Office for National Statistics is “questionable”.
He added that: “It is markedly at odds with still very decent survey evidence for the sector."
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