World stocks finish lower on US recovery worries


Associated Press

LONDON

World stocks finished mostly lower Monday amid worries that the economic recovery in the U.S. will slow down, with trading light as Wall Street remained closed for the Independence Day weekend.

A disappointing jobs report from the U.S. on Friday suggested the world’s largest economy is stuttering, while other figures indicate China also could slow down.

European markets found some support during the session in a report showing retail sales in the region rose modestly in May, but ended slightly lower. The British FTSE 100 and Germany’s DAX both finished down 0.3 percent at 4,823.53 and 5,816.20, respectively. France’s CAC-40 was down about 0.5 percent at 3,332.46.

Asian markets were mixed at the close, with the Shanghai index down but Japan’s Nikkei up.

“Growth fears have in particular been centered on the U.S. in the wake of a run of disappointing data,” said Mitul Kotecha, an analyst at Credit Agricole.

Though some investors may be quietly buying back into the market after heavy losses last week, overall sentiment is cautious. Besides the weak jobs data, U.S. indicators recently have shown a drop in home sales, a fall in consumer confidence and a slide in manufacturing activity.

Volumes remained light, with trading closed in the U.S. European indexes were buoyed slightly by a report showing eurozone retail sales rose 0.2 percent on the month in May.

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