Back
1 Sep 2015
European markets to open lower, China sours sentiment again
FXStreet (Mumbai) - Stocks on the European bourses are expected start a data-heavy Tuesday on a bearish note, digesting the latest Chinese data and also tracking negative lead from US and Asian markets.
Asian stocks extended their bearish bias led by Nikkei and Chinese stocks. The benchmark index, the Shanghai Composite (SSEC) dived over 3% on Tuesday, before recovering slightly and trades now at 3132, recording a loss of -2.28% on the day. While Nikkei closed the day almost -4% down on stronger yen, which was boosted by risk-on flows.
Before the market open, futures for Germany's DAX 30 index dived 2.23% to 10,018.30, while futures for the UK's FTSE 100 index lost 1.62% to 6,116.50. Among the other indices, French CAC 40 futures gave up 2.14% to 4,552.30, while futures for the pan-European Euro Stoxx 50 index decreased 2.29% to 3,194.00.
Looking ahead, a raft of final manufacturing PMIs from the Euro area economies are expected to dominate the EUR calendar while German and EZ employment data along with the UK’s manufacturing PMI report will also be closely watched.
Asian stocks extended their bearish bias led by Nikkei and Chinese stocks. The benchmark index, the Shanghai Composite (SSEC) dived over 3% on Tuesday, before recovering slightly and trades now at 3132, recording a loss of -2.28% on the day. While Nikkei closed the day almost -4% down on stronger yen, which was boosted by risk-on flows.
Before the market open, futures for Germany's DAX 30 index dived 2.23% to 10,018.30, while futures for the UK's FTSE 100 index lost 1.62% to 6,116.50. Among the other indices, French CAC 40 futures gave up 2.14% to 4,552.30, while futures for the pan-European Euro Stoxx 50 index decreased 2.29% to 3,194.00.
Looking ahead, a raft of final manufacturing PMIs from the Euro area economies are expected to dominate the EUR calendar while German and EZ employment data along with the UK’s manufacturing PMI report will also be closely watched.