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8 Sep 2015
European stocks to open higher, shrugs off China woes
FXStreet (Mumbai) - The risk-off sentiment seen during the mid-Asian session following weak Chinese trade balance numbers seems to have been ignored by European traders, thus predicting a positive start for the European stocks.
Markets moved past the Chinese trade figures and now cheer Germany’s widening trade surplus which also adds to the optimism around the Euro region. The trade surplus in Germany amounted to €25.0 billion in July, after €24.1 billion posted in June. Exports rose 2.4% in the measured month, while imports grew 2.2%, exceeding estimates.
Shanghai shaves-off losses, clinches gains
Stock markets in China remained volatile, swinging between gains and losses. The Chinese trade data brought along a renewed wave of risk-aversion with the Chinese benchmark, the Shanghai Composite index losing as much as 3%, only to recover completely and now trades over 1.18% higher at 3,117.
Ahead of Europe open, futures for Germany's DAX 30 index added 0.14% to 10,128.50, while futures for the UK's FTSE 100 index advanced 0.09% to 6,076.80. Among the other indices, French CAC 40 futures gained 0.06% to 4,552.30, while futures for the pan-European Euro Stoxx 50 index increased 0.01% to 3,201.50.
Later in the session, Eurostat will publish euro zone GDP data for the second quarter. The market expects an expansion of 0.3% on a quarterly basis, while 1.2% growth is forecast year-on-year.
Markets moved past the Chinese trade figures and now cheer Germany’s widening trade surplus which also adds to the optimism around the Euro region. The trade surplus in Germany amounted to €25.0 billion in July, after €24.1 billion posted in June. Exports rose 2.4% in the measured month, while imports grew 2.2%, exceeding estimates.
Shanghai shaves-off losses, clinches gains
Stock markets in China remained volatile, swinging between gains and losses. The Chinese trade data brought along a renewed wave of risk-aversion with the Chinese benchmark, the Shanghai Composite index losing as much as 3%, only to recover completely and now trades over 1.18% higher at 3,117.
Ahead of Europe open, futures for Germany's DAX 30 index added 0.14% to 10,128.50, while futures for the UK's FTSE 100 index advanced 0.09% to 6,076.80. Among the other indices, French CAC 40 futures gained 0.06% to 4,552.30, while futures for the pan-European Euro Stoxx 50 index increased 0.01% to 3,201.50.
Later in the session, Eurostat will publish euro zone GDP data for the second quarter. The market expects an expansion of 0.3% on a quarterly basis, while 1.2% growth is forecast year-on-year.