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Amid concern European leaders will not be able to form a united front to deal with the Eurozone crisis, traders were cautious, with the Stoxx Europe 600 Index sliding 0.7 per cent to 232.4. This adds up to a 3.5 per cent decrease over the week, Bloomberg reports, as the yields on Spanish and Italian bonds continue to climb.
"It looks like another flight to safety as traders just keep taking money off the table," said Terry Pratt, an institutional trader at IG Markets in Melbourne. "It hardly feels like we're going to find an upbeat finish to the week."
Consumer confidence fell in Britain yesterday as people wait to see how the crisis on the continent plays out, with the Nationwide Consumer Confidence Index recording its fifth monthly dip in a row.
Posted by Chris Weaver.
