European indices turn lower, China worries persist

By FXStreet FXStreet (Mumbai) – European stocks opened higher on Wednesday, although failed to hold on to the early gains and slipped back in the negative territory as investors remain wary about the global economic outlook amid persisting China slowdown concerns.

Moreover, increased volatility in recent times has kept most European traders on the side-lines as the stocks have been swinging between huge losses and gains.

Further, the traders from the UK were disappointed post the release of downbeat UK construction PMI report, hampering investors’ sentiment. The construction PMI in the UK grew slightly to 57.3 points last month, from 57.1 previously, while markets had forecast 57.5 points.

Germany’s DAX 30 index loses -0.21% to trade at 9,996, while the UK’s FTSE 100 index lost -0.20% to 6,044. Among the other indices, the French CAC 40 index gave up -0.29% to 4,529, while the pan-European Euro Stoxx 50 index decreased -0.34% to 3,178.

In the US, focus will turn to the ADP employment report for August, a forerunner ahead of Friday’s non-farm payrolls data, which is crucial for market participants as the figures may hint what monetary steps the Fed might take at its upcoming meeting.
For more information, read our latest forex news. …read more

Source:: FX Street