"… markets have been overoptimistic after the extra liquidity provided by (the European Central Bank). We will see stocks moving lower"
- Christian Tegllund Blaabjerg, chief economist at FIH Erhvervsbank
European banks were closed on Monday in observance of Easter Monday.
Shares closed mixed on Thursday. The Stoxx Europe 600 Index gained 0.12 per cent to 259.07. Germany's DAX Index retreated 0.13 per cent and France's CAC 40 Index gained 0.19 per cent. The U.K.'s FTSE 100 Index rose 0.35 per cent to 5,723.67.
"There are concerns that the pickup in the economy is not that rosy and that markets have been overoptimistic after the extra liquidity provided by (the European Central Bank). We will see stocks moving lower," said Christian Tegllund Blaabjerg, chief economist at FIH Erhvervsbank.
"Germany is doing well, but southern Europe is doing worse than expected and markets have underestimated the effects government's austerity measures will have on economies. The big questions among investors is if northern European countries will be able to support growth in Europe so much that the euro zone will come out of the negative territory," he added.
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