European Shares To Open On Weak Note After China Data


(RTTNews.com) - European stocks are likely to open lower on Monday as Chinese trade data for December disappointed investors.

China's exports unexpectedly fell 4.4 percent from a year earlier in the month â€" the biggest monthly drop in two years, while imports also fell 7.6 percent, marking the biggest decline since July 2016.

Asian stocks fell broadly on concerns about a sharp economic slowdown in the world's second-largest economy.

Investors also looked ahead to U.S bank earnings this week and Tuesday's key Commons vote on Brexit for directional cues.

Oil prices fell over 1 percent on growth concerns while safe-haven gold rose on a weakening dollar after the release of tepid U.S. inflation data.

U.S. stocks edged lower on Friday after rallying for the past five sessions. Underlying sentiment turned cautious as oil prices dropped and investors awaited earnings from big Wall Street banks.

The Dow Jones Industrial Average and the S&P 500 slid marginally while the tech-heavy Nasdaq Composite eased 0.2 percent.

European markets also ended mostly lower on Friday, reflecting concerns about the U.S. government shutdown, a Brexit impasse and the lack of any clear resolution to the U.S-China trade talks.

The pan-European Stoxx Europe 600 index inched up 0.1 percent. The German DAX shed 0.3 percent, France's CAC 40 index dropped half a percent and the U.K.'sFTSE 100 declined 0.4 percent.


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