The FTSE 100 fell on Monday following a disappointing set of economic data from China.
China’s GDP growth fell to 4.9% In the third quarter, it fell to 3.1% year-on-year, well below analysts’ estimates of 4.5%.
“The FTSE 100 has lost some of its recent momentum as China’s GDP figures fell in the third quarter on Monday, disappointing,” said Lasmold, investment director at AJ Bell.
Mold also emphasized the factors driving the weakening of China’s economy with supply chain and electricity issues similar to those experienced in many other economies around the world.
“The problems facing the Chinese economy are the well-known problems of supply chain problems and power shortages,” said Mold.
Miners were able to shrug the surprisingly poor Chinese data, and investors continued to worry about the strength of their post-pandemic travel, so the FTSE 100’s top drop fell 3.5% internationally. It was Consolidated Airlines.
Despite the fall in the FTSE 100 on Monday, the decline in London did not hurt as much as was observed in Europe.
Both DAX in Germany and CAC in France fell by more than 0.5%.
FTSE 100 rattles in poor data in China
Source link FTSE 100 rattles in poor data in China