In Europe: European shares briefly turn positive after U.S. data

16 August 2012


Paper “thin” I’d say! ¬†Not much action in global markets expected.

European shares edged into positive territory in thin, jittery trade on Thursday after U.S. data showed some tentative signs of economic improvement but was still sufficiently soft to leave the door open for fresh stimulus from the Federal Reserve.

The FTSEurofirst 300 index, which had been trading slightly lower before the publication of the data, edged up by 0.31 points – or 0.03 percent – to 1,101.05 points by 1235 GMT.

The data showed that the number of Americans filing new claims for jobless benefits edged higher last week although a trend reading fell close to a four-year low.

July housing starts, meanwhile, fell more than expected.

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