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2 Feb 2016
Risk-off is back in Europe, stocks drop 1%
FXStreet (Mumbai) - Friday’s BOJ driven rally proved to be short lived as the moderate losses seen yesterday were extended further today with stocks trading 1% lower on the day.
At the time of writing, the pan-European Euro Stoxx 50 index was down 1%. Major regional indices – Germany’s DAX, UK’s FTSE and France’s CAC – were each down 1%.
The risk-off could be attributed to China data released yesterday which showed another fall in the county’s manufacturing activity. Meanwhile, the drip in oil also weighed over the equities.
Shares in UK’s Bhp Billiton, Weir Group were down 4% each. Germany’s Infineon AG was down 5.5%.
At the time of writing, the pan-European Euro Stoxx 50 index was down 1%. Major regional indices – Germany’s DAX, UK’s FTSE and France’s CAC – were each down 1%.
The risk-off could be attributed to China data released yesterday which showed another fall in the county’s manufacturing activity. Meanwhile, the drip in oil also weighed over the equities.
Shares in UK’s Bhp Billiton, Weir Group were down 4% each. Germany’s Infineon AG was down 5.5%.