In Europe: European shares hit again after U.S. data

24 August 2012


Hope you enjoyed the ride while it lasted! Uncertainty seems to be the order of the day.

European shares extended losses on Friday afternoon after mixed U.S. economic data further cooled speculation among some that the U.S. Federal Reserve would launch a new stimulus programme.

New orders for long-lasting U.S. manufactured goods surged 4.2 percent in July, thanks to strong demand for civilian aircraft after an upwardly revised 1.6 percent increase in June.

However, the data showed a second straight month of declines in a gauge of planned business spending, which pointed to a slowing growth trend in the factory sector.

The FTSEurofirst 300 index was trading 0.5 percent lower, at 1,084.42 points at 1247 GMT.

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