(MENAFN- AFP) Europe's main stock markets rebounded slightly on Friday and the euro was stable against the dollar after the currency had tumbled the previous day.
London's FTSE 100 benchmark index edged up 0.06 percent to stand at 6,643.96 points around midday in the British capital.
Frankfurt's DAX 30 gained 0.08 percent to 9,518.01 points and in Paris the CAC 40 index rallied 0.73 percent to 4,386.94 compared with Thursday's closing level.
Madrid's IBEX 35 index grew 0.55 percent to 10,842.1 points.
European equities had finished in the red on Thursday, following Wall Street lower on disappointing economic indicators on both sides of the Atlantic.
Asian indices mirrored the trend by sliding to lower finishes on Friday.
"The problem many investors are facing is that besides weaker economic growth there is also a lack of new impulses in general which would cause stocks to break through to the upside and post new highs," said Markus Huber, senior trader at brokers Peregrine & Black.
"Strongly rebounding economic growth or better-than-expected corporate profits would be needed as potential catalysts to draw new money into the markets."
US stocks turned negative on Thursday, led by a sell-off in Apple, which has been hit by complaints about its new operating system and latest iPhone models.
"The US economy is recovering and today's revised GDP data for the second quarter is expected to confirm this," said London-based Neil MacKinnon, economist at financial group VTB Capital.
"The US labour market is also improving despite a modest increase in the initial jobless claims data yesterday."
He added that although major equity markets were Thursday "hit with a bout of the jitters... it is worth bearing in mind that the latest sell-off does come near quarter-end and might just reflect profit-taking rather than a major shift in asset allocation on the part of real money investors."
In foreign exchange trading on Friday, the European single currency edged up to $1.2751 from $1.2750 late in New York on Thursday. The euro had at one point tumbled to $1.2697 on Thursday to record its lowest level since November 2012.
The euro dipped against the British pound, to 78.12 pence from 78.14 on Thursday. The pound rose to $1.6325 from $1.6316.
On the London Bullion Market, the price of gold climbed to $1,223.70 an ounce from $1,213.75 an ounce on Thursday.
The euro is coming under pressure from concerns about weak eurozone growth as well as from a strengthening dollar, which is benefiting from US Federal Reserve plans to bring to a stop its stimulus programme in October.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.