1. Hello Guest Click here to check FX Binary Point Financial Directory

China-exposed European stocks take a hit

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The weak imports data from China weakened the European stocks exposed to China and pushed major European indices lower.

    The pan-European blue chip Euro Stoxx 50 index fell 1.21%. The UK’s FTSE fell 0.81%, while France’s CAC dropped 1.58%. Germany’s DAX also weakened 1.11%.

    BHP Billiton is down 2.5% and Antofagasta is down 2.3%. ArcelorMittal dropped 5.7%. Luxury shares like LVMH, Christian Dior retreated 3% each. The mining giant Glencore fell 4.5%.

    The Chinese data released today showed the country’s imports in September dropped by 11%, while exports dropped by 1.1%. The drop in exports is hardly surprising since the global slowdown is already well known. However, drop in imports does not bode well for the European and especially German exports.
    For more information, read our latest forex news.

Share This Page