28/04/14 Market Movements

Market news
The FTSE100 closed up 14.47 points at 6,700.16 as rises in AstraZeneca Plc grew by a record amount:

AstraZeneca jumped 14 percent to a record after Pfizer Inc. confirmed its interest in taking over the U.K. drugmaker for almost $99 billion.

 The Conference Board Leading Economic Index (LEI) for the Euro Area rose 0.2% March to 111.2, following a 0.1% increase in February and 1.4% increase in January.

The Euro Area LEI increased in March, but its pace of growth has recently slowed, suggesting that the recovery in the Euro Area is not likely to pick up substantially in the months ahead,” says Bert Colijn, senior economist at The Conference Board. “The evolving situation in Ukraine is adding to uncertainty about the growth outlook.

Given these conditions, we expect economic growth in the Euro Area to only be around 1% for 2014.”