European Stocks Mixed, U.K. Jobless Rate Drop Confuses Markets
A rapid fall in the U.K. jobless rate appeared to confuse the London market. Though a good sign for the economy, investors worry it may lead to higher rates.
An unexpectedly rapid fall in the U.K. jobless total to 7.1% seemed to confuse the London market. It's a good sign for the economy but investors worry it may portend higher interest rates. Bank of England Monetary Policy Committee minutes suggest the central bank won't move fast. German insurer Allianz fell back over 2.7% on the surprise on the resignation of Mohammed El-Erian, head of its asset management subsidiary Pimco. Meanwhile, China injects liquidity into the system.
