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Date: Monday 23 Jun 2008

LONDON (ShareCast) - European bonds did well thanks to some weak economic data from the eurozone.

The euro zone's purchasing managers' index fell to a provisional 49.5 points in June from 51.1 in May. On the manufacturing front the PMI index was down to 49.1 from 51.6 in the same period.

Meanwhile, the German Ifo research institute’s business climate index fell to 101.3 in June from 103.5 in May, dragged down by concerns over the rising oil price.

German ten-year bund yield fell 2 basis points to 4.6%, though in the UK, gilts were relatively flat.

In the UK, property website Rightmove said average asking prices have fallen 1.2% to £239,564 this month, the first time the property website has measured a fall in June.

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