European Shares Decline On Weak China Data

2024-12-05 3609
(fxcue news) - European stocks traded lower on Tuesday, with miners leading losses after data showed China's exports grew at a slower pace in November and imports unexpectedly shrank, in a worrying sign for the world's second-largest economy. Also, focus shifted to upcoming U.S. CPI data and the ECB policy meeting. The European Central Bank's (ECB) monetary policy decision is due on Thursday, with the central bank expected to cut interest rates by 25 bps for the third time in a row. The pan European STOXX 600 dipped 0.3 percent to 519.59, snapping an eight-session winning streak. The German DAX slid 0.1 percent, France's CAC 40 shed 0.6 percent and the U.K.'s FTSE 100 was down half a percent. Miners Anglo American, Antofagasta and Glencore were down 2-3 percent. China-related luxury goods makers such as LVMH, Kering and Hermes International were down 1-2 percent in Paris. Ashtead shares plunged almost 11 percent. The British construction equipment rental group said it plans to move its listing from London to New York. FirstGroup rallied 4 percent. The transport group has agreed to acquire RATP London from RATP Developpement for an enterprise value of 90 million pounds ($114.8 million). British Gas-owner Centrica fell 2.3 percent after adding an extra £300m to its existing share buyback plan. Delivery Hero SE, a German food delivery platform, plummeted 8 percent as it's Middle East subsidiary Talabat started trading in Dubai. TeamViewer lost 9 percent after the software firm agreed to acquire the London-based IT firm 1E for an enterprise value of $720 million. Automaker Volkswagen rose 1.4 percent after reports that talks with unionists will continue next week. In economic releases, Germany's consumer price inflation rose to a four-month high in November due to less favorable energy base effects, Destatis reported. The consumer price index registered an annual increase of 2.2 percent in November, following a 2.0 percent rise in October. That matched the estimate published on November 28. Inflation, based on the harmonized index of consumer prices, stood at 2.4 percent, the same as in October and in line with the flash estimate.
Sign In via X Google Sign In via Google
This page link:http://www.fxcue.com/340806.html
Tips:This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement:Contact us if the content violates the law or your rights

Please sign in

关注我们的公众号

微信公众号