DAX down on China's economic slow-down

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Source: Dukascopy Bank SA
© Scanpix/FP
European shares traded in red on Monday amid weaker economic growth in China. The National Bureau of Statistics in China announced a 7.7% GDP advance, less than 8% expected. The DAX Index slid 0.9% to 7,674.14 points. Only two in 30 companies included in the gauge posted gains. E.ON SE surged 0.5% to 14.57 euros as the mining company successfully started a new project in the North Sea. On the downside, Infineon Technologies AG, a semiconductor manufacturer, lost 3.9% to 5.73 euros, prolonging a downward trend started in the beginning of March. ThyssenKrupp AG, a big manufacturing conglomerate, declined 3.7% to 13.45 euros, posting the biggest monthly decrease since May. Furthermore, Siemens AG retreated 3% to 78.62 euros, pushing the industrial sector into the red zone. The company plans to cut 4,000 more jobs, in addition to 8,000 job cuts that were announced before. Volkswagen AG followed with a 2.6% plunge to trade at 144.25 euros.
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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 15:47:04 GMT

FTSE declines amid slower economic growth in China

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