European Stocks Mostly Dip; Italian Banks Suffer
Sumaira FH Published August 01, 2016 | 06:57 PM
LONDON,(UrduPoint / Pakistan Point News - 1st Augst,2016) - European stock markets mostly fell Monday on poor post-Brexit manufacturing data, with Italy rocked also by stress tests which sparked fresh questions over the health of its troubled banks. London slid 0.4 percent as a survey showed Britain's manufacturing industry has slumped to its lowest level in more than three years on the back of Brexit. In the eurozone, Paris stocks retreated 0.6 percent, Madrid dropped 0.8 percent, while Frankfurt was essentially flat, after weak manufacturing figures for the area. The data prompted new concern over economic fallout from Britain's shock EU exit vote, and overshadowed news that most European banks had survived assessments designed to show their ability to weather another global crisis.
"Relief that European banks mostly survived the stress tests helped European markets get off to a good start on Monday but gains started to drift away ...
following disappointing UK and European data," said CMC Markets analyst Jasper Lawler. "UK manufacturing activity has slumped to its lowest level since February 2013. The drop in sterling has helped boost export orders but this was more than offset by a weaker production and domestic orders.
Related Topics
Recent Stories
Dar for joint action to counter Islamophobia in context of Israeli aggression ag ..
Azam Tarar urges for effective implementation of Action Plan for Human Rights
PAF cadets' graduation ceremony held
One-day national seminar "Great Power Competition: Challenges and Opportunities ..
10 firms submit LoIs for PIA: Aleem Khan
Saudi Arabia launches Nusuk pilgrim card for the Hajj of 2024
High Commissioner Hawkins hosts reception to mark 'Australia Day in Spring'
PM forms inquiry committee to probe matter of wheat import
E-Evidence system inaugurated in Bahawalnagar district courts
Bitterness at UCLA as Gaza protest cleared
Kenya, Tanzania brace for cyclone as heavy rains persist
DC reviews seven-day anti-polio drive in Federal Capital
More Stories From Business
-
10 firms submit LoIs for PIA: Aleem Khan
5 hours ago -
Trained manpower imperative for food security: Dr Sarwar
7 hours ago -
Asian Development Bank (ADB) delegation visits Federal Board of Revenue (FBR)
8 hours ago -
Pakistan's total liquid foreign reserves reach $ 13.316 billion
8 hours ago -
WWF-Pakistan rolls out regenerative agriculture practices initiative
9 hours ago -
Govt to equip agri-sector with modern technology: Rana Tanveer
8 hours ago
-
US trade gap wider than anticipated in March
9 hours ago -
Pakistani entrepreneurs asked for exploring business opportunities in Ethiopia
8 hours ago -
US trade gap wider than anticipated in March
9 hours ago -
Mongolian envoy for joint efforts to improve trade ties
9 hours ago -
Rupee gains 01 pasia against US dollar
10 hours ago -
Ahsan Iqbal expresses Pakistan's eagerness to enter CPEC Phase-II
10 hours ago