European stocks fell, extending a weekly loss, as oil and gas companies dropped, outweighing better-than-expected euro-area economic confidence data.
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.S. stocks are beating every major asset class for the first time in 17 years even as economic growth weakens and profits rise at the slowest rate since 2009.
U.K. stocks rose, extending this week’s rally for the benchmark FTSE 100 Index, after earnings from J Sainsbury Plc and BT Group Plc beat analysts’ estimates.
German stocks declined, snapping a seven-day rally for the benchmark DAX Index, after economic reports in the U.S. disappointed investors.
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.
U.S. stocks erased earlier losses, sending the benchmark Standard & Poor’s 500 Index higher for the first time in three days, as an advance in Apple Inc. shares overshadowed disappointing corporate results.
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.
"In the short term, European equities have gone a bit too far."
- Max King on Aug 30, 2013
Investec’s King Says ‘It Can Only Get Worse’ in Greece
Investec's King on Stocks, Bednarczyk on Currencies
Investec's King on Greek Banks, Raymond on Stocks
Hughes on European Debt Crisis, Max King on Stocks
Taylor on ECB, BOE; Investec's King on Stocks