GLOBAL MARKETS - European stocks muted after market volatility in China
Istanbul, October 9 (Hibya) - European stocks opened flat Wednesday as positive sentiment wavered in the region, spurred by market volatility in China.
The pan-European Stoxx 600 index opened just 0.06 percent higher but strengthened slightly to trade up 0.11 percent. The FTSE 100 was the only primary European index trading in positive territory on open, up 0.5 percent, with France’s CAC 40, Germany’s Xetra DAX and Italy’s FTSE MIB all in red.
Regional markets traded and closed lower on Tuesday, with all major bourses and most sectors trading in the red during the day. The lacklustre session came after a shaky start to the week, with investors responding to a slowdown in China’s stimulus rally.
Chinese stocks sold off in another volatile day of trading amid mixed Asia-Pacific markets overnight. The mainland CSI 300 dropped 6 percent, and Hong Kong’s Hang Seng index extended its losses, falling 2.5 percent. On Tuesday, the HSI recorded its worst day in 16 years, closing 9.41 percent lower.
U.S. stock futures hovered near the flatline Tuesday night after a winning session for the major averages. Wall Street is coming off a strong session for the major averages Tuesday as tech stocks outperformed, and oil prices eased off their highs.
Wednesday's European events include the German government’s latest economic forecasts and the latest meeting of NATO defence ministers in Belgium.
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