EU stocks fluctuate amid banks’ slump
On Tuesday, European stock markets kept fluctuating between gains and losses, with most bank shares struggling, because fears of a global economic downtime are still actual.
The Stoxx Europe 600 index sagged to 312.28, thus losing 0.7%. It started its race a bit higher, then dipped 0.8% before resuming its seesaw. On Monday, the index lost 3.5% and then closed at the lowest value since October 2014.
A market analyst of Hantec Merkets, Richard Perry told concerns regarding the global growth slowdown is a typical excuse, while $100 billion in China’s FX reserves is a serious warning light. On the other hand, it may be just a negative sign of bear pressure in the markets and it’s a real concern too.
Germany’s DAX 30 index, which entered bear territory on Monday, dropped to 8,931.08, thus lacking 0.5%, while France’s CAC 40 index acquired 0.8% at 4,032.03. The British FTSE 100 index sagged 0.2% at the value 5,679.05.
The overall pessimistic trading mood in the European Union was strengthened by data, disclosing a sudden dip in German industrial production in December. That’s another obvious sign that the EU’s largest economy on a weak note in 2015.