Renewed concern hits stocks

RENEWED concern over the actual pace of recovery in the world’s economy hampered growth in international markets yesterday.

However, early declines in the main US markets were reversed into modest early gains despite weaker than expected monthly job figures from the States.

That data also dampened positive movement in Europe, but the main markets on this side of the Atlantic managed small gains in the end – aided by a lower-than-anticipated demand for European Central Bank (ECB) loans from eurozone-based banks, suggesting that the continent’s economy is healthier than feared.