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Export collapse in China shakes global stocks



The all-European Stoxx 600 fell 0.8 percent during morning deals, with all sectors and major stock markets in negative territory. Chinese official data Monday showed that imports fell 7.6 percent in December compared to the previous year, while analysts had expected a rise of 5 percent.

China's exports fell unexpectedly by 4.4 percent, which contradicted the projections of a plus of 3 percent. The news seemed to raise concerns that US tariffs on Chinese goods are likely to severely affect the world's second largest economy.

When looking at the individual issues, the Danish Pandora broke its price target for the company after Morgan Stanley ended the European benchmark. The Copenhagen-listed share lost almost seven percent.

In other countries, British Burberry traded well after Bank of America Merrill Lynch raised its stock recommendation from "underperform" to "neutral". The shares of the luxury stock rose against the news by almost 1

percent.


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