Move comes as unexpectedly weak economic Chinese data highlights fears about a growth slowdown
An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange in London, UK. Picture: BLOOMBERG via GETTY IMAGES/LUKE MACGREGOR European stock indexes opened lower on Monday, after oil prices slid and riskier currencies took a hit during the Asian session as unexpectedly weak economic data from China highlighted fears about a slowdown in growth.
At 9.32am, the MSCI world equity index, which tracks shares in 50 countries, was flat on the day, but still holding above last week's lows.“This week’s events calendar is relatively quiet, so markets are more than ever at the mercy of headlines related to the global growth outlook,” wrote ING rates strategists in a note to clients.
The European Central Bank is likely to decide at its next meeting to end its stimulus programme in July, and raise interest rates “very soon” after that, ECB policymaker Pablo Hernández de Cos said on Saturday.
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