Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

European Stock Futures Mixed; Chinese Economy Slows

Stock Markets Aug 15, 2022 02:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
EUR/USD
-0.44%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
XAU/USD
-1.03%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE30
-1.96%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
-1.10%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LCO
+4.27%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
-0.02%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Peter Nurse 

Investing.com - European stock markets are expected to open in a mixed fashion Monday, starting the week on a cautious note amid concerns about slowing global growth after weak Chinese economic data.

At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% lower, CAC 40 futures in France climbed 0.5% but the FTSE 100 futures contract in the U.K. fell 0.1%.

Economic data released earlier Monday showed China’s economic growth rate unexpectedly slowing in July, prompting the country’s central bank to cut key lending rates in a surprise move.

Industrial output grew 3.8% in July from a year earlier, with the growth rate below the 4.6% increase expected, while retail sales rose 2.7% from a year ago, missing forecasts for 5.0% growth and the 3.1% growth seen in June.

China's economy, the world’s second largest, is struggling to shake off the June quarter's hit to growth from strict COVID restrictions.

The European Central Bank raised interest rates by a half-point in July and is expected to do the same in September, even though the risk of a Eurozone recession has reached the highest level since November 2020 as energy shortages threaten to drive already record inflation higher still.

European stocks closed higher last week, helped by companies delivering largely better-than-expected results so far this quarter. This week sees the last big batch of earnings, with German consumer goods maker Henkel (ETR:HNKG) in the spotlight Monday.

Oil prices fell Monday, weighed by a potential increase in supply by oil giant Saudi Aramco (TADAWUL:2222) as well as concerns of slowing growth in China, the world's second-largest economy.

Saudi Aramco stands ready to raise crude oil output to its maximum capacity of 12 million barrels per day if requested to do so by the Saudi Arabian government, Chief Executive Amin Nasser said Sunday, as the state-owned energy firm announced one of the largest quarterly profits in history.

Additionally, China's economy unexpectedly slowed in July, triggering concerns about demand at the world's largest crude importer, especially as refinery output tumbled to just over 12 million barrels per day, its lowest since March 2020.

By 02:00 ET, U.S. crude futures traded 1% lower at $91.17 a barrel, while the Brent contract fell 1% to $97.19. 

Additionally, gold futures fell 0.4% to $1,808.25/oz, while EUR/USD traded 0.1% lower at 1.0246.

 

European Stock Futures Mixed; Chinese Economy Slows
 

Related Articles

3 Rumors That Had Wall Street Buzzing Today
3 Rumors That Had Wall Street Buzzing Today By Investing.com - Oct 07, 2022 3

By Investing.com Staff After starting the week on a strong note, stocks closed out the week on a sour note with the S&P 500 falling 2.8%. Several rumors made their way around...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Dave Jones
Dave Jones Aug 15, 2022 2:49AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It has to go up. Everything is awesome!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email