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Stock market update in Europe: In an uncertain environment, London and Paris remain the favorites

Stock market update in Europe: In an uncertain environment, London and Paris remain the favorites

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This morning, the major European stock markets opened lower. Protests in major Chinese cities are rekindling investors’ concerns about China’s growth. Nevertheless, Paris and London retain their positions as the largest financial powers in Europe.

 

This weekend, numerous demonstrations took place in Chinese cities, including Shanghai, to protest against the drastic restrictions linked to covid 19. These protests are spooking investors, who fear for the growth of the world’s second largest economy.

 

Initial futures contracts show a decline of 0,55 % for the Paris CAC 40, 0,47 % for the Dax in Frankfurt, 0,54 % for the FTSE in London and 0,43% for the EuroStoxx 50. On the Asian side, the CSI 300 index of large caps in mainland China lost 1,1% and Shanghai’s SSE Composite lost 0,8%. In Hong Kong, the Hang Seng fell 1,73%.

 

According to a financial analyst, “much tighter restrictions coupled with economic turmoil are more likely in the coming weeks than a sudden easing of restrictions.”

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