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Risk-off grips European stocks after china stock sell-off

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    European stock markets turned risk-off on Monday following a sharp sell-off in the Chinese equity markets.

    At the time of writing, the pan-European Euro Stoxx 50 index was down 1.3%. Germany’s DAX and France’s CAC were down 1.5% and 1.1% respectively. UK’s mining heavy FTSE index was down 0.80%. The pan-European Stoxx 600 was down 1.10%.

    The banking stocks once again came under pressure following a technical correction seen in the last week. Shares in Standard Chartered fell 3.5% after Bernstein cut its price target for the bank's Hong Kong-listed stock. HSBC holdings also dropped 3.2%. In Germany, shares in Deutsche Bank were down 2.45% as well.

    Chinese markets tumbled Monday. Experts say, the recovery in China's property market may be driving some of the stock sell-off.
    For more information, read our latest forex news.
     

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