European stock markets slumped to begin the trading week as shares in Germany, the United Kingdom and France all pulled back with a fall in commodity prices weighing down the major indexes.
The lackluster start to the trading week in Europe contrasts with more positive sentiment in Asian markets that traded mostly higher with indexes in Australia, Hong Kong and the Chinese mainland posting gains.
Data out of China Monday showed the country’s export growth unexpectedly slowed in July while imports also lost momentum. Chinese exports rose 19.3% from a year ago, compared with a 32.2% gain in June and versus a market forecast of a 20.8% gain.
Chinese imports rose 28.1% from a year earlier, less than a market forecast of a 33% increase.
Meanwhile, U.S. stock futures were slightly lower in early premarket trading despite major indexes ending the last trading week higher following a stronger-than-expected jobs report.
The U.S. Labor Department jobs report issued on Friday (August 6) showed the U.S. economy added 943,000 jobs in July. Economists expected 845,000 new jobs last month. The U.S. unemployment rate dropped to 5.4%, below the expectation of 5.7%.
Investors are awaiting key U.S. inflation data scheduled for release this week. The Consumer Price Index and the Producer Price Index are each scheduled to come out this week.
In addition, several U.S. Federal Reserve officials are scheduled for speaking appearances in the week ahead, with investors listening with a close ear for insights into the central bank’s tapering decision making.
In terms of individual share price movement, Britain’s Deliveroo surged 9.8% after disclosing that German peer Delivery Hero had taken a 5.09% stake in the company.
British financial services company Hargreaves Lansdown plunged more than 10% after its latest earnings report disappointed investors.
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