Pound and stocks trim weekly gains

The pound declined yesterday, reversing earlier gains versus the dollar, after better-than-expected US retail sales and manufacturing data added to signs that the world’s largest economy is gaining traction.

European stocks were down but erased most of their intraday losses at yesterday’s close, even as the latest terror attack in France dragged travel shares lower.

The Stoxx Europe 600 Index closed less than 0.2% lower, paring an earlier drop of up to 0.7%. Travel and leisure shares posted the biggest slide, with Easyjet, Thomas Cook, and hotel operator Accor down at least 2.7% after the atrocity in Nice.