european stocks slide on china\s slowing gdp
Last Updated : GMT 18:10:46
Arab Today, arab today
Arab Today, arab today

European stocks slide on China\'s slowing GDP

Arab Today, arab today

Arab Today, arab today European stocks slide on China\'s slowing GDP

London - AFP

European stock markets fell sharply on Monday and gold plunged to a two-year low after news that growth slowed in powerhouse China in the first quarter of 2013, dealers said. In midday deals, London's FTSE 100 index of top companies sank 1.19 percent to 6,308.17 points, Frankfurt's DAX 30 shed 1.04 percent to 7,662.35 points and in Paris the CAC 40 lost 1.02 percent to 3,691.13 points. On the London Bullion Market, gold prices slumped to $1,398.85 per ounce. That was the lowest level since March 2011 and compared with $1,535.50 late on Friday. And silver recoiled $23.02 per ounce -- hitting a low point last witnessed in October 2010. China said its economy grew 7.7 percent in the first quarter of this year, well below the 8.0 percent forecast in a poll of 12 economists by AFP and worse than the 7.9 percent in the previous three months. The news raises questions about the strength of the world's number two economy, which is a key driver of global growth, analysts said. "Weak economic growth in China has taken investors by surprise this morning and commodity stocks are weighing on the FTSE 100 index," said analyst Mike McCudden at online brokerage Interactive Investor. "With the recent run or weaker global economic data investors have reached an impasse, and without a great deal in sight this week to inspire them, we should see markets drift lower," McCudden said. "Ongoing eurozone concerns will not help." The data sparked a sell-off of mining stocks in Europe on Monday because China is a major consumer of raw materials. "With the drops in gold and silver making the headlines, Fresnillo, Polymetal and Randgold Resources are the worst hit, all down over 5.0 percent," noted CMC Markets Matt Basi. Fresnillo saw its share price collapse by 12.41 percent to 1,115 pence, Evraz shed 10.03 percent to 165 pence and Randgold dropped 9.68 percent to 4,478 pence. Antofagasta stocks fell 5.68 percent to 955.5 pence and Xstrata lost 5.70 percent to 983.6 pence. In Paris, shares in European metals giant ArcelorMittal recoiled 4.07 percent to 34.325 euros. Gold had already dived under $1,500 per ounce late on Friday, hit by fears that the US Federal Reserve could rein in its stimulus plans, and after news that crisis-hit Cyprus may sell reserves as part of its bailout. In earlier trade, Asian markets also slipped on the disappointing batch of Chinese growth figures, with traders also keeping a wary eye on the Korean peninsula. Tokyo stocks fell 1.55 percent as a pick-up in the yen also dampened sentiment. Hong Kong shed 1.43 percent and Shanghai was down by 1.13 percent, while Sydney declined by 0.91 percent and Seoul nudged 0.20 percent lower. In foreign exchange activity on Monday, the euro slid to $1.3106 in London midday deals, from $1.3066 late in New York on Friday.

arabstoday
arabstoday

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides

GMT 15:05 2017 Wednesday ,15 November

Bahrain Bourse daily trading performance

GMT 02:47 2017 Wednesday ,15 November

Asian markets down as fears grow for US tax reform

GMT 19:56 2017 Tuesday ,14 November

Bahrain Bourse daily trading performance

GMT 02:48 2017 Saturday ,11 November

European stock markets fall further

GMT 11:45 2017 Friday ,10 November

Bahrain Bourse daily trading performance
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

european stocks slide on china\s slowing gdp european stocks slide on china\s slowing gdp

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

european stocks slide on china\s slowing gdp european stocks slide on china\s slowing gdp

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday