10 Nov 2015
European stocks drop after a positive start, miners slide
FXStreet (Mumbai) - The stock markets in the Europe turned lower, undoing the positive start to trading as mining shares took a hit following weak China data.
At the time of writing, the pan-European Euro Stoxx 600 index was down 0.4%. The blue chip Euro Stoxx 50 index also retreated 0.30%. Among regional indices, Germany’s DAX fell 0.5%, while France’s CAC dropped 0.3%. The mining heavy London’s FTSE dropped 0.60%.
Shares in Greek lender Alpha Bank and National Bank of Greece dropped more than 10% each. UK’s mining giant Anglo American shed more than 5%. Ericsson AB dropped 3.5% after predicting slower growth for the wireless-networking market.
Shares have erased their gains so far this month on the back of weak Chinese data and increased odds of Fed tightening.
At the time of writing, the pan-European Euro Stoxx 600 index was down 0.4%. The blue chip Euro Stoxx 50 index also retreated 0.30%. Among regional indices, Germany’s DAX fell 0.5%, while France’s CAC dropped 0.3%. The mining heavy London’s FTSE dropped 0.60%.
Shares in Greek lender Alpha Bank and National Bank of Greece dropped more than 10% each. UK’s mining giant Anglo American shed more than 5%. Ericsson AB dropped 3.5% after predicting slower growth for the wireless-networking market.
Shares have erased their gains so far this month on the back of weak Chinese data and increased odds of Fed tightening.