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With decreases indices ended the main European markets in today’s session after today in China published data showing that the economy of the country and globally delayed, cited by Bloomberg.
At the end of the session the pan-European Stoxx Europe 600 registered a fall of 0.1% to 269.88 points. For the week, however, the index surged by 1.6 percent because of better-than-expected corporate reports.
In Germany, the DAX 30 fell 0.29 percent to 6945 points, Britain’s FTSE 100 fell 0.08 percent to 5847 points and France’s CAC 40 0.61% wiped to 3436 points.
“Economic data from China were disappointing, so we see pressure on stocks,” the agency told Peter Brandon from Swisscanto Asset Management. He predicted that there will be a “healthy correction” in the markets after strong growth rates in recent days.
Today, the data of Chinese Customs showed that exports of the country grew by 1 percent in July compared to July last year, while imports increased by 4.7 percent.
Economists had expected that in July Chinese exports will register an increase of 8%, imports – by 7 percent.
New loans in local currency in July were 540.1 billion yuan (85 billion dollars), which is also below economists’ expectations. For comparison, in June were loans to nearly 920 billion yuan.
“Markets recently went up, despite bad news on expectations for additional incentives from central banks, but deterioration of the economy it is hard to be ignored. Market participants will be disappointed if their thirst for incentives not quench, “said Jonathan Sudaria, a trader of Capital Spreads in London