Europe Stocks Fall
European markets moved lower amid ongoing worry over terrorism. London's FTSE 100 finished off 45.30 points, or 0.87%, to 5,151.90, while investors fled to safe-haven bonds. The Bank of England voted 9-0 to hold rates unchanged in May. France's CAC 40 index closed lower by 72.91 points, or 1.66%, to 4,326.29.
Meanwhile, Germany's DAX index was down 65.11 points, or 1.31%, to 4,919.50, despite news that March construction rose 5.8% and the country exited recession in the first quarter. Deutsche Telekom posted a larger than expected loss for the first quarter. And SAP suffered after Goldman Sachs cut earnings estimates for over 20 software companies (including SAP).
Asian stocks ended higher. Japan's benchmark Nikkei 225 index jumped 160.82 points, or 1.36%, to 11,961.98, led by cyclical stocks that rose on economic recovery hopes. Hong Kong's Hang Seng gained 41.91 points, or 0.36%, to 11,795.20.