PARIS (Reuters) – The main European stock markets are reluctant to open on Wednesday, the state of activity in China weighing on investor sentiment.
In Paris, the CAC 40 rose by 0.22% to 7,283.98 points around 07:35 GMT. In Frankfurt, the Dax stagnated, while the FTSE, in London, fell 0.11% after the publication of inflation figures which showed that the costs of services continue to rise.
The pan-European FTSEurofirst 300 index dropped 0.11%, the EuroStoxx 50 rose 0.10% and the Stoxx 600 stalled.
Futures on New York indices suggest Wall Street opening slightly higher, with the Dow Jones nibbling 0.10%, while the Standard & Poor’s 500 advanced 0.10% and the Nasdaq 0.16%.
Chinese data released on Tuesday showed activity continuing to slow, with retail sales, industrial production and construction all falling short of consensus.
This observation was confirmed by the prices of new houses in July, published on Wednesday, which are down for the first time this year.
Investors are finally worried about a contagion of property troubles to the financial sector, as Zhongrong Trust Group missed coupon payments on dozens of its investment products.
In values, Admiral Group gained 6.4% after first-half profits up year on year.
The mining sector is down 0.34%, worried about the prospects for Chinese demand.
(Writing by Corentin Chapron, editing by Kate Entringer)
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