Stocks and bonds rally in Europe on subdued data
In France, a survey showed business activity fell at the fastest rate in over four years in the face of falling demand and the effect of antigovernment protests
London — The euro retreated while stocks and bonds rallied on Thursday, as painful data from France and only modestly better readings from Germany set the tone for the European Central Bank's first meeting of 2019. Progress, or lack of it, in US-China trade talks was also in focus, as were signs of a Brexit delay. Emerging-market bulls were charging in Venezuela after a US move against the country's president, Nicolas Maduro. In France, a survey showed business activity pulled back at the fastest rate in over four years in the face of weakening demand and the impact of anti-government protests. Germany's services sector accelerated more than expected, but that was largely offset by the first contraction in manufacturing in more than four years. The euro fell 0.2% to $1.1350, and while an upbeat tech sector helped stocks, it meant there would be plenty of concerned questions for European Central Bank President Mario Draghi later. "At the moment their guidance [to raise interest rates...
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