UK, French Stocks Depreciate as German Shares Rise

By Investors Hub

European stocks are turning in a lackluster performance on Tuesday after producer price inflation data from China signaled weakness in domestic and overseas demand. Investors are also waiting cues from the ECB, Fed and BoJ meetings.

ECB President Mario Draghi is expected to unleash a barrage of stimulus on Thursday to shore up economic growth amid the U.S.-China trade war.

While the German DAX Index has crept up by 0.2 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are both down by 0.2 percent.

Spanish telecom major Telefonica has slumped on reports that it is considering a new employment adjustment to offer voluntary leave for people over 53.

Netherlands-based Qiagen NV has also fallen after it decided to integrate its global sales resources into its Business Areas, comprising Life Sciences, Molecular Diagnostics and Bioinformatics.

Bovis Homes has also shown a notable move to the downside as it revived talks to buy Galliford Try’s housing businesses.

On the other hand, Volkswagen shares have risen after German automaker rolled out its first electric car, the ID.3, after unveiling a new brand identity and logo.

JD Sports Fashion has also moved sharply higher after logging higher profits and revenues in the 26 weeks ended August 3rd.

In economic news, French industrial production recovered in July, but the pace of growth was weaker than expected, figures from the statistical office Insee showed.

The U.K. unemployment rate remained at the lowest since late 1974, the Office for National Statistics reported.

In three months to July, the ILO jobless rate remained unchanged sequentially, at 3.8 percent, but slightly below the expected 3.9 percent.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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