European shares head for first weekly drop since April

http://ift.tt/eA8V8J Concerns about Iraq and Ukraine and subdued economic data left European shares facing their first week of losses since early April on Friday and nudged gold towards a two-month high. Fighting between Iraqi forces and insurgents raged in the home town of former dictator Saddam Hussein, while Russia warned of "grave consequences" as Ukraine signed a trade and political agreement with the European Union. "The advance (in stock markets) has stopped for a while but there has been no five or ten percent correction," said Alvin Tan, a strategist at Societe Generale. Investors were also digesting an unexpected drop in euro zone business and consumer confidence data [ID:nB5N0LC01F] and awaiting German inflation numbers, both important for the European Central Bank's future policy.



from Yahoo! Finance: Top Stories http://ift.tt/1iBaJh3

via IFTTT