European stock markets are down this afternoon as renewed fears about the heavily indebted Chinese property group, Evergrande, have dented sentiment.
The mood in equity markets is downbeat on account of the disappointing data posted by China overnight, in addition to that, the tick higher in government bond yields is hurting stocks too.
It is a mixed day for equities, as European markets are in positive territory, while the major indices in the US are showing losses.
The mood in the markets is subdued following the excitement experienced last week. Traders are sitting on the sidelines today as they still don’t know what to make of last Friday’s US jobs report.
The FTSE 100 is outperforming the major indices in the eurozone thanks to its relatively large exposure to oil and gas stocks, such as BP and Royal Dutch Shell.
Stock markets in Europe and the US are in positive territory after a few days of losses. In recent sessions, traders have been preoccupied by fears of higher inflation, but today equities have rebounded.
Equity markets are moving higher today as traders are less fearful of the possibility of China slowing down, it also helps that government bond yields have dipped.
A combination of fears that China is cooling, and rising government yields have prompted traders to sell stocks.
Stock markets in Europe are showing modest gains this afternoon. Germany’s DAX is up following the country’s general election yesterday.
European equity markets are in the red this afternoon as there are some mild concerns the European Central Bank (ECB) might look to taper its bond buying scheme sooner than previously thought.
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