World shares
neared record highs and bond yields fell on Friday, as investors
shrugged off slowing global growth and focused instead on the continued
stimulus provided by the world's major central banks.
European
shares edged down from three-week highs, pegged back partly by a
rebound in the euro, but were still on track for their best week in six,
and Germany's DAX for its best week since January.
U.S. futures pointed to a slightly positive open on Wall Street SPc1, after the S&P 500 .SPX hit an all-time high on Thursday.
A batch of soft manufacturing data on Thursday from the United States, China and Germany pointed to sluggish global growth but cemented investor hopes that central banks will keep stoking activity.
Federal Reserve Chair Janet Yellen will take centre stage later on Friday. Earlier this week Fed meeting minutes appeared to push the timing of the first U.S. rate hike out to late 2015, while the ECB's Benoit Coeure said the euro zone bank could increase its bond purchases in the near term.
"There are chances of more
rate cuts in China, the Fed is delaying its rate hikes and Europe is
treading a steady course so the risks are on the limited side for the
market," said ABN Amro Chief Investment Officer Didier Duret. "We
are seeing the tail of the slowdown in the United States in the first
quarter, meaning it is probably the last set of data that are rather
negative."
By 1155 GMT the FTSEuroFirst 300 index .FTEU3 was down 0.2 percent, with luxury goods group Richemont (CFR.VX) falling on weak sales. Britain's FTSE 100 .FTSE was up 0.6 percent at its highest level in 10 days in the wake of a better-than-expected improvement in UK public finances.
Earlier, Wall Street's record high helped China's main index to leap nearly 3 percent to a fresh 7-year high, rounding off a weekly gain of 8 percent, its strongest week this year. It has risen 45 percent in only six weeks.
MSCI world equity index .MIWD00000PUS, which tracks shares in 45 countries, was up 0.2 percent at 443.54, close to a record high of 443.98 hit in April.
U.S. futures pointed to a slightly positive open on Wall Street SPc1, after the S&P 500 .SPX hit an all-time high on Thursday.
A batch of soft manufacturing data on Thursday from the United States, China and Germany pointed to sluggish global growth but cemented investor hopes that central banks will keep stoking activity.
Federal Reserve Chair Janet Yellen will take centre stage later on Friday. Earlier this week Fed meeting minutes appeared to push the timing of the first U.S. rate hike out to late 2015, while the ECB's Benoit Coeure said the euro zone bank could increase its bond purchases in the near term.
By 1155 GMT the FTSEuroFirst 300 index .FTEU3 was down 0.2 percent, with luxury goods group Richemont (CFR.VX) falling on weak sales. Britain's FTSE 100 .FTSE was up 0.6 percent at its highest level in 10 days in the wake of a better-than-expected improvement in UK public finances.
Earlier, Wall Street's record high helped China's main index to leap nearly 3 percent to a fresh 7-year high, rounding off a weekly gain of 8 percent, its strongest week this year. It has risen 45 percent in only six weeks.
MSCI world equity index .MIWD00000PUS, which tracks shares in 45 countries, was up 0.2 percent at 443.54, close to a record high of 443.98 hit in April.
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