European Stocks Flat as China Slows
August 12 2016 - 4:20AM
Dow Jones News
European stocks struggled for direction Friday as investors
weighed concerns about the Chinese economy against a recent rebound
in oil prices.
The Stoxx Europe 600 was flat in the early minutes of trading as
gains in energy and mining companies were offset by widespread
losses elsewhere.
Boosting oil and gas shares, Brent crude oil was up 0.4% at
$46.21 a barrel, building on Thursday's steep climb after Saudi
Arabia said it would work with other oil producers to stabilize
prices.
Markets in Asia inched higher, after the recent bounce in oil
prices helped send all three major U.S. indexes to record highs.
Japan's Nikkei Stock Average climbed 1.1% as markets reopened from
a holiday, while the Hang Seng added 0.8% and the Shanghai
Composite Index added 1.6%.
The moves came despite lackluster Chinese economic data, which
missed expectations and pointed to a slowdown last month across
retail sales, factory output and investment.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
August 12, 2016 04:05 ET (08:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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