Europe Ends Higher Despite China Selloff

European equities ended higher on Monday, bucking the trend set in Asia.

The pan-European STOXX 600 index ended around 0.5 percent higher amid lighter trade volumes as U.S. markets were closed for the Labor Day holiday.

London’s FTSE index finished up around 0.6 percent, the German DAX provisionally ended 0.8 percent higher, while the French CAC closed 0.6 percent higher.

In Asia, there was choppy trade with investors cautious after the wild swings seen in Chinese equities. China’s National Bureau of Statistics revised its annual economic growth rate for 2014 on Monday to 7.3 percent from the previously released figure of 7.4 percent.

The Chinese benchmark Shanghai Composite closed down 2.6 percent on Monday. This weighed on oil prices, with both brent and light crude falling by nearly 4 percent.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.