FTSE declines amid slower economic growth in China

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Source: Dukascopy Bank SA
U.K. equities plunged on Monday as economic growth in China slid to 7.7% in the first quarter of 2013. In addition, investors are waiting for manufacturing data in New York region. The FTSE 100 Index fell 1.2% to 6,310.74 points, posting the first decline in four consecutive trading days. Among gainers, National Grid PLC, an electricity and gas utility company, advanced 1.1% to 801.5 pence. The company has signed a new four-year contract with DHL Supply Chain to provide logistics services across the U.K. Furthermore, Centrica PLC rose 0.6% to 381.8 pence as the company plans to acquire natural gas assets in Canada, together with Qatar Petroleum. Meanwhile, Fresnillo PLC, a gold and silver mining company, declined 15.9% to 1,072 pence, as its share price target was downgraded by Citigroup analysts. In addition, the company has got a sell rating on the stock. Evraz PLC plummeted 10.9% to 163.7 pence. Randgold Resources Ltd followed with a 9.8% decline to trade at 4,473 pence.
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Mon, 15 Apr 2013 12:45:03 GMT

Hong Kong stocks tumble as China's economy slows

Hong Kong shares tumbled on Monday on negative signs from national economy. Chinese GDP growth slowed last quarter to 7.7%, while experts expected the economy to expand by 8.0%. Adding to fears over domestic economy, China's industrial production declined to 8.9% in March from 9.9% in the preceding month. Analysts predicted industrial production to rise to 10.0% last month.

Mon, 15 Apr 2013 15:36:04 GMT

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