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Reply #7: Yup. World stocks hit six-week lows. China, Germany hard landing intimations. [View All]

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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-23-11 06:12 AM
Response to Reply #3
7. Yup. World stocks hit six-week lows. China, Germany hard landing intimations.
LONDON, Nov 23 (Reuters) - World stocks hit their lowest in six weeks on Wednesday and oil prices fell after China's November factory activity shrank at its sharpest pace in 32 months, reviving fears of an abrupt slowdown for the world's second largest economy.

Adding to global growth concerns, manufacturing in European heavyweight Germany contracted for a second straight month, and at a faster rate, as export demand slumped.

...

"The souffle we hoped we were going to eat is collapsing in front of us. We had hoped for a soft landing in China, better figures out of the United States and progress in Europe," Justin Urquhart Stewart, director at Seven Investment Management, said.

The evidence of weakening in China, whose rapid growth has provided a major prop for the world economy, came a day after the United States cut its third quarter growth figure.

/... http://uk.reuters.com/article/2011/11/23/markets-global...


European shares hit 7-week lows; miners fall

LONDON, Nov 23 (Reuters) - European shares fell on Wednesday, after muted demand for a German bond auction heightened worries about the euro zone crisis, and weak data from China intensified concerns about a global economic slowdown.

Germany sold 3.65 billion euros of new 10-year government bonds on Tuesday, in an auction which was technically uncovered after Berlin offered the lowest coupon on record for this maturity.

Banks, exposed to euro zone peripheral debt, were among the fallers. The STOXX Europe 600 Banking Index fell 0.7 percent.

Miners were also among the biggest fallers, as any slowdown in China, the world's biggest consumer of metals, is likely to hurt demand.

/... http://uk.reuters.com/article/2011/11/23/markets-europe...
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