FRANKFURT, Aug 17 ― A 10-day run of gains for European stocks came to a halt yesterday following a surprise slowdown in China's economic indicators, with commodity-linked stocks falling the most.
China's factory output and retail sales growth slowed sharply and missed expectations in July as new Covid-19 outbreaks and floods disrupted business operations. Optimism around the second-quarter earnings season, a revival in dealmaking and the pace of vaccinations in Europe drove the benchmark STOXX 600 to record highs last week.
All eyes now will be on US economic data due this week and the Federal Reserve's minutes from its July policy meeting to gauge when and how the central bank will start tightening its monetary policy.
Source: News Formal (newsformal.com)
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