On Monday, the 28th of January, 2019, a gauge of European stocks tumbled, as growing optimism on US federal government shutdown had eroded and growth worries again had rumbled.
The Pan-European STOXX 600 was down by 0.97 percent, its heaviest fall since January, 3rd, as a profit warning from Caterpillar had overhauled the howled market momentum and Chinese industrial profit data had displayed a second consecutive drop in December, 2018, perilously casting a cloud of deep pessimism over the investors’ mood.
Investors seemed to be highly cynical over the European stocks, despite a better-than-anticipated year-to-date data, as global slowdown fear had been weighing heavily on trembling confidence level and almost all of the Eurozone stocks had faltered on Monday, Jan.
28th. Citing statistics, the UK’s FTSE 100 drained 0.91 percent to 6,747, and the Germany’s DAX 30 dropped 0.63 percent to 11,210.31, while the Paris’s CAC 40 curbed 0.76 percent to 4,888.58. As investors’ have been eyeing the eurozone GDP and CPI data due to be released on Wednesday, Jan.
30th, GMT. 10.00, markets are likely to be cautious over the next couple of days, as a Blackrock global Chief Investment Strategist, Richard Turnill wrote in a note, “Medium-term threats to European unity, the European economy’s still-anemic growth and its dependence on trade do make us cautious toward European risk assets.