Global stock markets wary over slowdown threat

US stocks edged higher yesterday as shares of industrial and consumer discretionary companies rose, but gains were kept in check by worries of a global slowdown. Continental European stock markets fell even after data showed confidence among German companies improved.

In Ireland, Irish bank shares were mixed after the sell-offs of last week and CRH — which relies on US and European markets for its sales and profits — were little changed on the day. The so-called risk rally has come under scrutiny after stock valuations climbed near levels reached during the height of last year’s euphoria.