European Equities Slide In Choppy Trade

European equities slide in choppy trade

LONDON,(UrduPoint / Pakistan Point News -25th Augst,2016) - European stocks slid Thursday in choppy trade as investors eyed poor German data and recent oil price falls, on the eve of a speech by Federal Reserve boss Janet Yellen. In late morning deals, Frankfurt sank 1.0 percent, London lost 0.3 percent and Paris shed 0.8 percent in value.

The European single Currency however rose against the Dollar. "What we are seeing today is another example of what we've seen for the last week, choppy markets that are lacking any real direction due to a total lack of catalysts," Oanda analyst Craig Erlam told AFP.

"It's been a particularly quiet week for Europe on this front and combine this with the quiet summer period and the caution ahead of tomorrow's Jackson Hole speech from Janet Yellen -- although this is a bigger event for US markets -- and it's not entirely surprising that we're currently caught in these choppy conditions." Markets had been partly buoyed Wednesday by news that the German economy grew by a better-than-expected 0.4 percent in the second quarter.