Investing.com - European stocks closed mostly lower Monday, as Chinese exports expanded at a slower than forecasted pace, resulting in global economic slowdown worries.
At the close of European trade, the EURO STOXX 50 gave back 0.29%, France's CAC 40 fell 0.23%, while Germany’s DAX advanced 0.03%. Meanwhile, in the U.K. the FTSE 100 traded up by 0.03%.
China posted its biggest trade deficit since at least 1989 for last month.
This report added to the slow factory orders and retail sales reports from last week, increasing global slowdown fears and worries about monetary easing.
However, China’s central bank stated it will maintain prudent fiscal policy but will take pre emptive measures if needed.
In Greek news, finance ministers from the euro zone met in Brussels today to approve the island nation’s bailout package.
Last week bondholders agreed to swap Greece’s privately held debt for new securities increasing hopes of economic improvement in the struggling country.
Meanwhile, in Portugal bonds are yielding over 13% resulting in worries that the nation is next in line for a bailout.
The Chinese economic news led metal prices lower with Vendanta Resources falling 3.7% and Rio Tinto Group down 1.5%.
Accor added 2.2% after Credit Suisse increased its rating to outperform for the hotel company.
Banco Sabadell soared 9.1% after N+1 Equities upgraded the bank to a strong buy.
In U.S. midsession trade, stocks are mixed with the Dow up 0.19%, the S&P 500 down 0.06% and the Nasdaq Composite falling 0.25%.
Investors are awaiting the Bank of Japan’s interest rate announcement, ZEW German and euro zone economic sentiment index, and U.S. retail sales, as well as the Fed statement, Tuesday.
At the close of European trade, the EURO STOXX 50 gave back 0.29%, France's CAC 40 fell 0.23%, while Germany’s DAX advanced 0.03%. Meanwhile, in the U.K. the FTSE 100 traded up by 0.03%.
China posted its biggest trade deficit since at least 1989 for last month.
This report added to the slow factory orders and retail sales reports from last week, increasing global slowdown fears and worries about monetary easing.
However, China’s central bank stated it will maintain prudent fiscal policy but will take pre emptive measures if needed.
In Greek news, finance ministers from the euro zone met in Brussels today to approve the island nation’s bailout package.
Last week bondholders agreed to swap Greece’s privately held debt for new securities increasing hopes of economic improvement in the struggling country.
Meanwhile, in Portugal bonds are yielding over 13% resulting in worries that the nation is next in line for a bailout.
The Chinese economic news led metal prices lower with Vendanta Resources falling 3.7% and Rio Tinto Group down 1.5%.
Accor added 2.2% after Credit Suisse increased its rating to outperform for the hotel company.
Banco Sabadell soared 9.1% after N+1 Equities upgraded the bank to a strong buy.
In U.S. midsession trade, stocks are mixed with the Dow up 0.19%, the S&P 500 down 0.06% and the Nasdaq Composite falling 0.25%.
Investors are awaiting the Bank of Japan’s interest rate announcement, ZEW German and euro zone economic sentiment index, and U.S. retail sales, as well as the Fed statement, Tuesday.