Arab Today, arab today european stocks mixed amid worries over china ukraine
Last Updated : GMT 18:50:25
Arab Today, arab today
Arab Today, arab today

European stocks mixed amid worries over China, Ukraine

Arab Today, arab today

Arab Today, arab today European stocks mixed amid worries over China, Ukraine

London - AFP

Europe's main stock markets diverged on Tuesday as traders assessed unease over China and Ukraine in the absence of major regional data releases, analysts said. London's FTSE 100 fell 0.23 percent to stand at 6,674.07 points around midday in the British capital. Frankfurt's DAX 30 climbed 0.33 percent to 9,296.37 points and in Paris the CAC 40 slipped 0.37 percent to stand at 4,354.88 compared with Monday's closing values. "A bounce in Chinese equities after yesterday’s rout wasn’t enough to convince UK markets this morning, with equities selling off," said Toby Morris, trader at CMC Markets. "The Ukraine situation continues to rumble with no conclusion which doesn't help sentiment." Asian stock markets closed higher on Tuesday following big losses in the previous session but investors were largely unmoved by the Bank of Japan's decision to sit tight over its stimulus programme. Global markets suffered a sell-off on Monday in response to a shock trade deficit in China that raised concerns about the economy, second-biggest in the world, while Japan revised down its growth for 2013. The euro fell to $1.3841 from $1.3875 late in New York the day before. The dollar rose to 103.33 yen from 103.26 yen. On the London Bullion Market, the price of gold climbed to $1,347.71 an ounce from $1,344 on Monday. In Ukraine, the country's Crimea peninsula on Tuesday voted for full independence ahead of a referendum to join Russia, while France threatened sanctions against Moscow as early as this week. The latest escalation of Europe's worst crisis for decades came moments after Ukraine's ousted pro-Kremlin leader Viktor Yanukovych defiantly vowed to return to Kiev from Russia and declared he was still the leader of the ex-Soviet country. "The possibility of a war is forcing dealers to remain on the sidelines," said David Madden, market analyst at traders IG. Meanwhile, emerging economies are expected to hold down global growth with their "sub-par" performance, the OECD forecast on Tuesday, warning that the risk of recent turmoil hitting developing markets could intensify. But advanced economies are expected to post strengthening growth, although at a slower pace in the first half of 2014 than in the second half of last year. The good news from the developed world is being offset by a slowdown in emerging economies, some of which have seen massive capital outflows as the United States began to "taper" its $85-billion a month stimulus programme.

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