BLOOMBERG.COM
European stocks halted this week’s rally, weighed down by company earnings and a deadly terror attack in France. Equities in emerging markets gained for a seventh day after Chinese economic data beat estimates, while the yen and gold fell as demand for havens waned. Travel and leisure shares were among the worst performers in Europe after the attack in Nice while a slump in profit for Swatch Group AG dragged luxury-goods makers lower. In developing nations, shares rose in the longest rally since April amid signs of stabilization in the world’s second-largest economy. Japan’s currency extended its biggest weekly drop since 1999 and gold headed for its first weekly loss since May. The pound was poised for its biggest weekly rally since 2009.
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European stocks halted this week’s rally, weighed down by company earnings and a deadly terror attack in France. Equities in emerging markets gained for a seventh day after Chinese economic data beat estimates, while the yen and gold fell as demand for havens waned. Travel and leisure shares were among the worst performers in Europe after the attack in Nice while a slump in profit for Swatch Group AG dragged luxury-goods makers lower. In developing nations, shares rose in the longest rally since April amid signs of stabilization in the world’s second-largest economy. Japan’s currency extended its biggest weekly drop since 1999 and gold headed for its first weekly loss since May. The pound was poised for its biggest weekly rally since 2009.
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