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.
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