European stock exchanges closed lower on weak economic statistics from the U.S. and China
Major European stock indexes closed trading in the red zone
- DAX (Germany) fell 0.72%, FTSE 100 (UK) - by 0.42
0.42%, CAC 40 (France) - 0.81%. The pressure on the stock exchanges was put by the release of
of weak data on the U.S. and Chinese economy.
In the United States the volume of industrial production in September
showed a decline of 1.3% on a monthly basis instead of the expected
increase by 0.2%. In addition, the growth of the Chinese economy in the third
quarter was worse than forecast, amounting to 4.9% (analysts had expected
5,2%). The performance of both countries increased the concerns of market participants
about the state of the global economy, and continued high
inflation also contributed to their greater caution and risk aversion.
risk.
The players' restraint is also due to the expectation of release of financial
reports of major companies, cites the French Presse
Company analyst Think Markets Fawad Razama.