Europe’s main stock markets and the euro currency fell, with better than expected European growth data overwhelmed by persistent concern over eurozone debt woes at the end of a choppy trading week.

Most European stock markets made early gains, following losses last Thursday, but ended in negative territory after US markets opened down.

London’s benchmark FTSE 100 index ended the day off 0.32 per cent at 5,925.87 points.

In Frankfurt the DAX fell 0.55 per cent to 7,443.95 points while in Paris the CAC 40 slid 0.11 per cent to 4,018.85 points.

Meanwhile in foreign exchange deals, the euro initially jumped as high as $1.4340 but tumbled to $1.4094 by 1630 GMT.

It also lost ground against the Japanese currency, standing at 113.62 yen against 115.31 in late trading on Thursday.

The European markets were initially bouyed by news that economic expansion across the 17-country eurozone almost trebled to 0.8 percent in the first quarter of 2011, from 0.3 per cent in the last three months of 2010. However, the growth was uneven with Germany and France leading the way while the outlook for crisis-hit Greece worsened amid talks on a second Athens bailout due in Brussels on Monday.

The Greek economy grew by 0.8 per cent in the first quarter, but that was from downward revised figure from the fourth quarter of last year. It shrank by 4.8 per cent over 12 months.

Athens is currently undergoing a critical audit of its finances by experts from the European Union, the International Monetary Fund and the European Central Bank, which last year rescued the country from bankruptcy with a €110-billion bailout loan. Most other European bourses also ended down on the day with Madrid stocks losing 1.25 per cent of value, and Amsterdam shares prices down 0.74 per cent.

The Milan and Lisbon bourses suffered smaller drops, 0.11 per cent and 0.10 per cent respectively, while Swiss stocks were flat.

The Brussels bourse, however, saw gains, adding 0.21 per cent.

In the United States the early movement was also downwards.

At 1600 GMT the Dow Jones Industrial Average was off 0.52 per cent at 12,630.00 points.

The broader Standard & Poor’s 500 index was down 0.70 per cent at 1,339.19 while the tech-heavy NASDAQ composite shed 0.73 per cent to 2,842.06 points. Asian shares finished mixed Friday, after China tightened monetary policy further in its battle to tame inflation, stoking regional concerns of a slowdown in the world’s number two economy.

Tokyo ended the day down 0.70 per cent at 9,648.77 and Seoul closed 0.12 down pe rcent 2,120.08.

But Hong Kong closed up 0.88 per cent at 23,276.27, while Shanghai added 0.95 per cent, with analysts saying the reserve requirement hike had been widely expected.

On the currency markets in London yesterday, the euro was changing hands at $1.4094 against $1.4244 in late New York trading on Thursday, at 113.62 yen (115.31) and 1.2594 Swiss francs (1.2592)

The dollar stood at 80.64 yen (80.95) and 0.8939 Swiss francs (0.8839).

The pound was at $1.6167 ($1.6290).

<p>This article has been prepared by Bank of Valletta plc (the bank), which is licensed to conduct investment services business by the MFSA, for general information only. This information is not a solicitation or offer by the bank to acquire or sell securities. Nor does it constitute any form of advice by the bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.</p>

This article has been prepared by Bank of Valletta plc (the bank), which is licensed to conduct investment services business by the MFSA, for general information only. This information is not a solicitation or offer by the bank to acquire or sell securities. Nor does it constitute any form of advice by the bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.