European stocks fall after weekly gains

By FXstreet.com | June 23, 2014 AAA

FXStreet (Córdoba) - European stocks fell Monday, after posting a ninth weekly gain in ten, despite positive manufacturing data from China.



The Stoxx Europe 600 dropped 0.53% to 346.24,weighed by lower-than-expected Eurozone PMIs. The index rose 0.3% last week. Among country-specific indexes, UK FTSE 100 lost 0.45%. Germany's DAX 30 and France’s CAC 40 dropped 0.75% each. Spain’s Ibex 35 was down 0.23% while Italy’s FTSE MIB was the worst performer shedding 1.21%.



A preliminary Markit Economics report showed manufacturing activity grew less than expected, with the index printing 52.8 versus 53.2 the previous month and 53.3 expected.



In the FX market, the USD remains under pressure after a FOMC meeting last week, which offered little indication the Fed will hike rates anytime soon.



As for commodities, gold was little changed at $1316 an ounce, while crude oil was up 0.35% near 9-month highs at $107.21 a barrel.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center