European exchanges closed in the red on concerns over China’s economy

European exchanges closed in the red on concerns over China’s economy


The theme of China’s economic growth upset investors, giving a negative trend of European markets. At the end of trading the British FTSE 100 dropped by 0.11% to 6345,13 points, German DAX 30 — on 0,16%, to 10147,68 item.

MOSCOW, 20 Oct. Major stock indexes in Europe on Tuesday closed in the red on fears of investors for the prospects of the Chinese economy, according to AFP.

At the end of trading the British FTSE 100 dropped by 0.11% to 6345,13 points, German DAX 30 — on 0,16%, to 10147,68 points, French CAC 40 — on 0,64%, to 4673,81 item.

National Bureau of statistics of China on Monday said that 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. Industrial production of China in September rose yoy by 5.7% instead of the expected 6%. In August the growth was of 6.1%.

As noted by the economist of London Capital Group Jonathan Sudaria (Jonathan Sudaria), quoted by France Presse, the disappointing GDP data for China can be a signal for the rest of the world.