European Stocks Rebound in the North American Session

January 14, 2019 Share Print 0

The pan-European Stoxx 600 was down around 0.6 percent during lunchtime deals, with almost all sectors and major bourses in negative territory.

Europe’s technology stocks were the worst performers shortly after midday, down more than 1.2 percent. It comes after official data from China on Monday showed imports fell 7.6 percent year-on-year in December, while analysts had anticipated a 5 percent rise.

Meanwhile, China’s exports unexpectedly dropped 4.4 percent, defying projections of a 3 percent gain. The news appeared to reinforce worries that U.S. tariffs on Chinese goods were starting to take a heavy toll on the world’s second-largest economy.

Looking at individual stocks, Denmark’s Pandora slumped toward the bottom of the European benchmark, after Morgan Stanley slashed its price target for the company. The Copenhagen-listed stock slipped 6 percent.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.