|Day's Range||371.61 - 376.37|
|52 Week Range||329.58 - 391.35|
Eurostat said euro-area inflation in July slowed to 1% over the last 12 months, down from 1.3% in June and an initial estimate of 1.1%. That was the lower than the 1.1% expected in a FactSet-compiled economist forecast and the slowest growth since Nov. 2016.
U.S. stock futures moved off highs and Europe stocks turned lower as wire services reported that China's finance ministry said it would take countermeasures to the latest tariffs. President Trump on Tuesday had backed off part of the plan to slap 10% tariffs on $300 billion of Chinese goods, delaying some duties until December.
Germany’s gross domestic product shrank 0.1% in the second quarter of the year, confirming the lackluster performance of the German economy hit by rising trade fears, the slowdown of Chinese imports and home-grown industrial and economic problems.
The eurozone economy slowed to a 0.2% growth rate in the second quarter, according to a flash estimate published by Eurostat, which also reported a 1.6% decline in June industrial production. Compared to a year ago, the eurozone economy grew 1.1%.
The German ZEW indicator of economic sentiment for Germany slumped to a -44.1 reading in August, which is the worst level since Dec. 2011 and down from -24.5 in July. Economists polled by Factset expected a -28 reading. The current situation index also fell, to -13.5, which is the worst since May 2010.
European stocks traded lower for a third straight session, amid continued concerns about the fallout from the U.S.-China trade war. Banks led the decliners, with Deutsche Bank down over 2% and Danske Bank falling 1.7%. Notable movers included Henkel , down nearly 5% after cutting its sales outlook, while travel group Tui rose after holding its outlook. U.S. stock futures pointed lower as well.
Italian stocks dropped sharply in early trade on Friday as Matteo Salvini, leader of Italy's League party, called for a snap election. The FTSE MIB dripped 1.6% in Milan while the broader Stoxx Europe 600 fell 0.2%. U.S. stock futures also were lower.
European markets climbed on Thursday after a surprise boost in Chinese exports lifted global sentiment and bond yields moved off record lows.
Led by pharmaceuticals including Novo Nordisk and Merck KGaA , European stocks traded higher on Thursday, with the Stoxx 600 Europe rising 0.8% in early action. U.S. stocks finished off lows on Wednesday, and the markets reacted calmly to the PBOC setting the reference rate on the yuan above 7 for the first time since 2008.
European stocks opened with narrow losses after China's central bank set the yuan's reference point higher than expected early Tuesday. The Stoxx Europe 600 fell 0.1% to 369.19, and the German DAX managed a small gain. U.S. stock futures pointed toward opening gains.
European stocks opened the week with more selling as the Chinese yuan fell through a key level: The U.K. FTSE 100 , which has several Chinese-sensitive miners, fell over 1%.
The European Central Bank on Thursday makes clear it stands ready to cut rates and deliver “highly accommodative” monetary policy in its effort to push stubbornly low inflation back toward its target amid signs of deteriorating economic conditions in the eurozone.
A gauge of German manufacturing output fell to the worst level in seven years in July, underscoring the slowdown in trade that has undercut the exporting powerhouse and may lead the European Central Bank to cut interest rates in two months’ time.
European stocks started higher on Tuesday, tracking gains in Asia after U.S. tech companies met with White House officials to discuss Huawei and ahead of European Central Bank and Federal Reserve interest-rate decisions. Banks including Santander and Deutsche Bank advanced. Notable movers included Tesco and J Sainsbury , both of which dropped as the U.K. supermarkets lost market share, according to data from Kantar. Computer peripheral maker Logitech jumped nearly 7% in Swiss trade after confirming 2020 targets for sales growth and operating income.
European markets were subdued on Wednesday as trade war concerns spilled over onto the continent but Eurozone inflation data maintained hopes of fresh stimulus.
European markets edged down on Tuesday as the dust settled on last week’s rally and concerns over a trade war tempered gains.
European markets nudged higher on Monday as investors shrugged off news that China’s GDP growth has fallen to a 27-year low.