Our analysts have their fingers on the pulse of the world's financial market news.
Asian stocks were mixed while the offshore Chinese yuan spiked after data showed July export and import growth in China had fallen well below forecasts. Export growth is at its lowest since February while import growth was the lowest this year. There is a perhaps misplaced assumption from most market participants that Chinese authorities will keep the economic party going until at least the People’s Party Congress in October.
The weak economic data from China is weighing on stocks in Europe which look set to open lower despite a positive finish on Wall Street where the Dow Jones broke above 22,100. Europe’s hefty trade relationship with China makes the figures worrisome for future earnings growth. China-sensitve mining stocks are likely to be a focal point of weakness on the FTSE 100 where investors will be assessing results from Worldpay, Standard Life, IHG and Paddy Power amongst others.
The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced. Losses can exceed deposits.
Trading on Wall Street was lacklustre, with the S&P moving between small gains and losses before moving lower into the close. News that a meeting between President Trump and China’s President Jinping Xi was being pushed back into April served to dampen dem…Read more