The Stoxx Europe 600 declined 0.5% by 8:05 a.m. in London as soft Chinese services PMI data weighed, with almost all the sectors in red. LVMH and Hermes were under pressure as China’s slowdown weighed, given the country is estimated to contribute up to a fifth of their annual sales.
China-led undeperformance follows dismal August, when stocks were under pressure on concerns about Chinese economy, on top of worries that rates will peak at higher than expected levels. Investors are also fretting about slowing growth in the region while inflation remains above the European Central Bank target.
The potential downside risks emanating from China were further highlighted by outgoing RBA Governor Phil Lowe were highlighted as Australia’s central bank kept its key interest rate unchanged and maintained a tightening bias.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European stocks rise on China optimism; Novo Nordisk scales new peak(Reuters) - European shares rose on Monday, echoing an upbeat mood in Asia as investors were optimistic that a series of stimulus from China will ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
European Stocks Hold Steady as China Stimulus Lifts MinersEuropean equities held steady as fresh Chinese stimulus measures aimed at supporting the country’s beleaguered property sector boosted miners and travel sectors, though worries over slowing economic growth kept gains in check.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Property Stocks Lead China Rally as Stimulus Measures Lift Mood(Bloomberg) -- Chinese stocks jumped after the nation rolled out further property support measures, the latest in an intensifying campaign to rescue to beleaguered sector that’s been dragging down the economy. Most Read from BloombergDiamond Prices Are in Free Fall in One Key Corner of the MarketMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadershipBurning Man Death Under Probe With Thousands Still StrandedZelenskiy Says He’s Removing Ukraine Defense Chief in RevampTesla’s $41,000 Model
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia Stocks Set to Fall as China Property in Focus: Markets WrapAsian stocks are set to open lower Tuesday, as traders return their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Asia Stocks Fall as China Property Back in Focus: Markets Wrap(Bloomberg) -- Asian stocks edged lower as traders returned their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketStocks Cede China-Led Gains in Thin Holiday Trade: Markets WrapStocks opened lower in South Korea after inflati
Source: YahooFinanceCA - 🏆 47. / 63 Read more »