European stocks closed little changed as a record drop in U.K. house prices offset an unexpected decrease in initial claims for U.S. jobless benefits.
European exporters are turning into the world’s biggest bargains as the euro’s decline boosts the value of foreign sales and pushes valuations to the lowest in a year.
U.K. stocks fell after the Federal Reserve said the U.S. economy’s recovery is likely to be “more modest” than forecast and the Bank of England cut its estimate for U.K. growth.
German stocks declined, snapping a seven-day rally for the benchmark DAX Index, after economic reports in the U.S. disappointed investors.
"The conflict in Iraq could have an impact on the stock market."
- Max King on Jun 13, 2014
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