Slower China growth data boosts bonds, drags on EU, US stocks
ALBAWABA – Disappointing Chinese economic data rippled through markets in the United States (US) and European Union (EU) Monday, as US stocks slipped on slower China economic growth and oil followed suit, news agencies reported.
European stocks and oil retreated, while bonds rallied upon the release of China’s economic data, Bloomberg reported.
The euro reached $1.1249, the highest level since February 2022 on expectations of an end soon to the Federal Reserve's tightening, according to Agence France-Presse (AFP).
The yen and sterling have also pushed to multi-month highs in recent sessions.
Equities last week surged as news that US inflation slowed more than expected fuelled hopes that the Federal Reserve would soon end its campaign on interest rates.
Markets summary
S&P 500 futures fell 0.1 percent
Nasdaq 100 futures were little changed
Dow Jones Futures fell 0.2 percent
The MSCI World index fell 0.1 percent
London - FTSE 100: DOWN 0.5 percent at 7,400.98 points
Frankfurt - DAX: DOWN 0.6 percent at 16,008.23
Paris - CAC 40: DOWN 1.3 percent at 7,276.80
EURO STOXX 50: DOWN 1.2 percent at 4,348.33
Shanghai - Composite: DOWN 0.9 percent at 3,209.63 (close)
Tokyo - Nikkei 225: Closed for a holiday
Hong Kong - Hang Seng Index: Closed because of storm
New York - Dow: UP 0.3 percent at 34,509.03 (close)
Euro/dollar: UP at $1.1243 from $1.1230 on Friday
Dollar/yen: DOWN at 138.14 yen from 138.82 yen
Pound/dollar: UP at $1.3095 from $1.3091
Euro/pound: UP at 85.86 pence from 85.76 pence
West Texas Intermediate: DOWN 1.6 percent at $74.18 per barrel
Brent North Sea crude: DOWN 1.6 percent at $78.64 per barrel
