Bear and bull statues stand outside the Frankfurt Stock Exchange, in Frankfurt, Germany. Picture: BLOOMBERG/ALEX KRAUS
In a document published on the central government’s website late on Sunday, Beijing said it would step up a policy of targeted cuts to banks’ required reserve ratios to encourage financing for small and medium-sized businesses. German exports and imports both fell more than expected in February, data showed on Monday, in the latest sign that Europe’s largest economy will likely have meagre growth in the first quarter amid increased headwinds from abroad.
The European Central Bank will update the market on Wednesday, the same day as a crucial EU summit on Brexit, while China and the EU will hold a summit on trade on Tuesday. “Q1 will definitely not be a good quarter for corporates, and it might well be that the market turns back to fundamentals whereas a lot of hope on China/US trade deals and developments on the interest-rate front had driven markets up year-to-date,” said DWS' Weidenbach.
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