Late-day buying boosted European stocks as they wrapped up a solid quarter. Closing changes for the main European bourses:
- UK FTSE flat (+2.4% on the quarter)
- German DAX +0.4% (3.0% on the quarter)
- French CAC -0.1% (+0.7% on the quarter)
- Spain IBEX -0.7% (+5.5% on the quarter)
- Italy MIB -0.2% (-2.1% on the quarter)
European shares will rely on better growth and confidence for the remainder of the year while speculation about ECB QE and bank stress test results continue. In the UK, currency appreciation may begin to bite into corporate profits.
