European stocks fall after weekly gains

By FXstreet.com | Updated July 30, 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.



Related Forex Analysis
  1. EUR/USD continues to ignore peripheral spreads - SG
    Forex News

    EUR/USD continues to ignore peripheral spreads - SG

  2. EUR stages a strong rebound - UOB Group
    Forex News

    EUR stages a strong rebound - UOB Group

  3. Fresh demand expected for EUR/USD on 1.25 level breach – FXStreet
    Forex News

    Fresh demand expected for EUR/USD on 1.25 level breach – FXStreet

  4. EUR/USD Surged Higher Last Session
    Investing

    EUR/USD Surged Higher Last Session

  5. EUR/USD Risks Larger Rebound on Dismal U.S. Durable Goods Orders
    Forex News

    EUR/USD Risks Larger Rebound on Dismal U.S. Durable Goods Orders

Trading Center