European exchanges closed in mild positive territory on fears over China’s economy

European exchanges closed in mild positive territory on fears over China’s economy


The British FTSE 100 dropped to 6352,33 points, the German DAX 30 grew to 10164,31 points, French CAC 40 – up to 4704,07 paragraph on investor concerns over China’s economic health.

MOSCOW, 19 Oct. Major stock indexes in Europe at the close of trading on Monday demonstrated mostly weak and uncertain growth investor concerns over China’s economic health, the second largest economy in the world, according to AFP.

At the end of trading the British FTSE 100 dropped 0.40% to 6352,33 points, the German DAX 30 rose by 0.59% to 10164,31 points, French CAC 40 — on 0,03%, to 4704,07 item.

The growth of China’s GDP in the third quarter in annual terms it stood at 6.9% vs. 6.8%. Although the rate was better than expected, growth the country’s economy still shows the slowest pace since 2009. The country’s industrial production in September rose yoy by 5.7% against the forecast of 6%. In August the growth was of 6.1%.

These statistics led to a decrease in the indices of the oil and metallurgical companies in the FTSE 100.

“The pressure on China will increase, until you have put forward new measures to stimulate the economy”, — said the Agency France Presse, analyst Accendo Markets Augustine Eden (Eden Augustin).