European stocks open lower on weak Chinese data

Economies.com
2019-08-14 11:27AM UTC

European stocks fell today continuing to fall, on investors' risk aversion, after the release of weak Chinese data which have renewed the global slowdown concerns, in addition to European data during the second quarter which indicate the slowdown of the European economy.

 

As of 10:50 GMT, Stoxx Europe 600 shed 1.2%, as it closed yesterday higher by 0.5%, its first daily gain in the last 3 days, after the US announced the delaying of the tariffs increase decision on several Chinese products .

 

The index fell today, to continue its losses, which were temporarily halted yesterday, as most of Europe's markets and sectors fell.

 

The auto industry is the biggest lose in Europe today, falling by 2%, on the weak Chinese data.

 

China released its reading for the industrial production y/y reading, which rose by 4.8% vs. 6.3%, the slowest pace in more than 17 years, in addition to a slowdown in retail sales in the same period

 

While the European GDP grew by 0.2% in Q2, in line with forecasts, vs. a growth by 0.4% in Q1.

 

The German GDP shrank by 0.1% in Q2, vs growth by 0.4% in Q1, which has raised worries over the largest European economy slowing down.

 

Standard & Poor's 500 futures fell by 0.9%, while it closed yesterday higher by 1.5%, its first daily gain in the last three days, as the US-China trade war concerns eased.

 

Euro Stoxx 50 fell by more than 1.3%, with France's CAC 40 shedding 1.3%, and in Germany DAX shed 1.4% and in London the FTSE 100 dropped 0.9%.

European Market News

Americas News

Markets

Dow Jones rises ahead of US inflation data
2024-03-27 15:35PM UTC
Most US stock indices rose on Wednesday ahead of new important US data on growth and personal ...
Americas News

Markets

Wall Street gains ground following positive data
2024-03-26 15:41PM UTC
US stock indices rose on Tuesday after a series of losses as markets assess latest ...
Americas News

Markets

Wall Street loses ground as the week opens up
2024-03-25 16:16PM UTC
Most US stock indices declined on Monday as markets assess the Federal Reserve’s stance on ...