European stock indices show a negative trend, as investors assessed mixed Chinese statistical data, as well as preparing for the ECB meeting. However, some support had moderate increase in oil prices.
As expected, China’s GDP grew by 6.7% in the 3rd quarter. A similar increase was observed in the 2nd quarter. However, although the pace of growth was in line with expectations, the signs of the weakness of exports and investments was recorded together with the growth in sales of new homes. These promote the growth of fears of further slowdown. Early next year pressure on the economy will increase, since the real estate market cycle will go on the decline.
The composite index of the largest companies in the region Stoxx Europe 600 trading lower by 0.2 percent. Yesterday the index recorded the maximum increase in nearly a month on optimism that monetary policy will remain favorable for growth.
Shares of Reckitt Benckiser Group fell 2.7 percent after the company reported disappointing figures in terms of sales in the third quarter.
Quotes of Travis Perkins Plc fell 5.1 percent as adjusted annual earnings forecast was slightly below consensus.
The cost of ASML Holding NV shares rose 3.9 percent after Europe’s biggest maker of semiconductor equipment announced the updated projections of profitability in the 4th quarter, which exceeded analysts’ expectations.
Carrefour share rose 1.6 percent as France’s largest retailer reported higher earnings in the third quarter, than experts predicted.
At the moment:
FTSE 100 -7.81 -0.11% 6992.25
DAX -19.49 10612.06 -0.18%
CAC 40 -4.86 4504.05 -0.11%
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