European Shares Fluctuate as German Sentiment Below Outlook, UK Stocks Fall


European Shares Fluctuate as German Sentiment Below Outlook, UK Stocks Fall

The Stoxx European 600 index rose less than 0.1% to 341.16, fluctuating around that level after a hugely tracked Ifo Business Climate Index dropped to 110.4, below the reading of 110.9 markets had expected.

The euro traded at $1.3632 after the Ifo data, tumbling from $1.3644.

DAX 30 gauge of Germany went up 0.1% at 9,727.90, taking no harm from the latest data. Earlier, statistics from the German government for the Europe’s largest economy showed growth in the first quarter, the MarketWatch reported.

CAC 40 of France shed 0.2% to 4,481.24.

UK shares plummeted, as the blue-chip FTSE 100 Index stayed on course for a weekly loss, with investors keen for release of data that may indicate a recovery of US housing activity.

Maker of security scanners Smiths Group Plc lost 2.1% after announcing lower-than-expected full-year profit estimates at its Smiths Detection arm. London Stock Exchange Group Plc added 1.3% after its stock got a rating upgrade by Goldman Sachs Group Inc.  Sports Direct International Plc increased 1.4% after its shares were endorsed for buying by Exane BNP Paribas.


The FTSE 100 Index dropped 15.35 points or 0.2%, going down to 6,805.21 as of 9:05 am in London. The blue-chip gauge is approaching a 0.7% loss this week. The broader FTSE All-Share Index plunged 0.2% on Friday. Ireland’s ISEQ Index tumbled 0.3%.

According to a survey of economists commissioned by Bloomberg, the sales of newly put up homes in the US jumped 425,000 in April after plunging 384,000 a month earlier as investors expect the US Commerce Department to show today in Washington.

Barclays PLC went up 0.6% in London after the Financial Conduct Authority of UK fined the bank about $43.9 million for lapses related to gold price fixing. The lender and trader Daniel James Plunkett faced higher fines had they not agreed to settle early.

To register for a free 2-week subscription to ForexMinute Premium Plan, visit

To contact the reporter of this story; Jonathan Millet at