Russian aid convoy fears drive European shares lower

European stocks fell on Friday, hit by fresh signs of an escalation of the conflict in Ukraine after a key speech from US Federal Reserve chief Janet Yellen left markets adrift. The British capital's benchmark FTSE 100 index edged down 0.04 per cent, ending the day on 6,775.25 points. The London market will remain closed on Monday for a public holiday. Frankfurt's main DAX index lost 0.66 per cent to 9,339.17 points while in Paris, the CAC 40 sank 0.93 per cent to 4,252.80 points, compared with Thursday's close.
- Markets weigh Yellen -
Federal Reserve Chair Janet Yellen gave no clear new signs for the future of monetary policy in the United States in a closely watched speech to leading central bankers in Jackson Hole, Wyoming. There still remains ‘considerable uncertainty about the level of employment,’ she said, admitting that analysing economic data had been ‘especially challenging recently’. The European single currency slumped to its lowest point in almost a year against the dollar at $1.3221 as Yellen’s comments supported the greenback. The euro later recovered to $1.3233, from $1.3281 late in New York on Thursday. The price of gold meanwhile slid to $1,277.25 an ounce, from $1,275.25 on Thursday on the London Bullion Market, according to AFP.