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Europe Ends Higher Despite China Selloff

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European equities ended higher on Monday, bucking the trend set in Asia.

The pan-European STOXX 600 index ended around 0.5 percent higher amid lighter trade volumes as U.S. markets were closed for the Labor Day holiday.

London’s FTSE index finished up around 0.6 percent, the German DAX provisionally ended 0.8 percent higher, while the French CAC closed 0.6 percent higher.

In Asia, there was choppy trade with investors cautious after the wild swings seen in Chinese equities. China’s National Bureau of Statistics revised its annual economic growth rate for 2014 on Monday to 7.3 percent from the previously released figure of 7.4 percent.

The Chinese benchmark Shanghai Composite closed down 2.6 percent on Monday. This weighed on oil prices, with both brent and light crude falling by nearly 4 percent.

CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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