European stocks decline on weak global cues

Technology companies and miners were led the decline in Stoxx Europe 600.

Jan 14, 2019 09:01 IST India Infoline News Service

stock market chart
Shares in European markets were trading down on Monday tracking the sell-off in Asian and US equity futures owing to dismal Chinese trade data released by the government on Monday.

As per a Bloomberg report, technology companies and miners were leading the fall in the Stoxx Europe 600 Index.

Meanwhile, shares in Asia also dropped led by the sharp sell-off in Heng Seng after China posted the worst import/export figures since 2016.

As per Chinese government data, total exports fell to $221.25bn in December, down 1.4% from November and 4.4% from the same month in 2017. Total imports fell to $164.19bn, a decline of 10% from last month and down 7.6% a year earlier.

On the currency front, the yuan held on to recent gains as Goldman Sachs Group Inc. lifted its forecast for the currency. Further, the pound was steady ahead of crucial vote on Brexit on Tuesday, with UK Prime Minister Theresa May appearing no closer to getting the backing she needs.

-With inputs from Bloomberg

Related Story