{"id":11540,"date":"2023-08-14T06:41:19","date_gmt":"2023-08-14T06:41:19","guid":{"rendered":"https:\/\/isafespend.com\/investing\/european-stock-futures-lower-on-chinese-property-woes-fed-hiking-concerns\/"},"modified":"2023-08-14T06:41:19","modified_gmt":"2023-08-14T06:41:19","slug":"european-stock-futures-lower-on-chinese-property-woes-fed-hiking-concerns","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=11540","title":{"rendered":"European stock futures lower on Chinese property woes, Fed hiking concerns"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Investing.com – European stock markets are expected to open lower Monday, with sentiment hit by persistent concerns about Chinese economic growth as well as higher U.S. inflation.<\/p>\n

At 02:00 ET (06:00 GMT), the contract in Germany traded 0.4% lower, in France dropped 0.3% and the contract in the U.K. fell 0.3%.<\/p>\n

Concerns surrounding China\u2019s property sector weigh<\/strong><\/h2>\n

The main European indices are set to follow the weak lead from Asia amid fresh worries about China’s debt-laden property sector.<\/p>\n

Country Garden <\/span><\/span> (HK:), one of the country\u2019s biggest developers, warned of a hefty $7.6 billion loss in the first half of 2023, prompting sharp selling to a new record low on Monday.\u00a0<\/p>\n

The company is also facing difficulty in meeting its debt obligations, having suspended trading in 11 of its onshore bonds, prompting fears of a default and more headwinds for the country\u2019s economic recovery from its COVID hit.<\/p>\n

China has the second-largest economy in the world, and is a major regional growth driver as well as a massive market for Europe\u2019s largest companies.<\/p>\n

U.S. inflation prompts unease<\/strong>\u00a0<\/h2>\n

European investors are also likely to fret about the possibility of U.S. interest rates rising further after Friday\u2019s stronger-than-expected .\u00a0<\/p>\n

The reading, which came after data also showed an increase in consumer inflation, pushed up concerns that the will keep hiking when it next meets in September.<\/p>\n

Back in Europe, fell 0.2% to the month in July, a drop of 2.8% on the year, as the largest economy in the eurozone continues to struggle.\u00a0<\/p>\n

U.S. retail sector dominates quarterly earnings<\/strong><\/h2>\n

There are few tier-one companies scheduled to report earnings in Europe Monday, and most of the corporate attention is likely to be focused on the U.S. retail scene.<\/p>\n

A number of the largest U.S. retailers are set to report their results this week, which will give investors an important insight into the health of consumer spending, a major driver of the U.S. economy.<\/p>\n

Crude falls on rising dollar, China concerns<\/strong><\/h2>\n

Oil prices retreated Monday, as concerns about China\u2019s faltering economic recovery as well as a stronger dollar prompted profit-taking after seven weeks of gains on tightening supply from OPEC+ output cuts.<\/p>\n

Friday\u2019s U.S. producer price index release saw the climb to a five-week high, which hurts demand for crude as it makes the commodity more expensive for international buyers.\u00a0<\/p>\n

By 02:00 ET, the futures traded 1.3% lower at $82.13 a barrel, while the contract dropped 1.2% to $85.75.\u00a0<\/p>\n

Additionally, fell 0.1% to $1,943.85\/oz, while traded 0.2% lower at 1.0928.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com – European stock markets are expected to open lower Monday, with sentiment hit by persistent concerns about Chinese economic growth as well as higher U.S. inflation. At 02:00 ET (06:00 GMT), the contract in Germany traded 0.4% lower, in France dropped 0.3% and the contract in the U.K. fell 0.3%. Concerns surrounding<\/p>\n","protected":false},"author":1,"featured_media":11541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-11540","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nEuropean stock futures lower on Chinese property woes, Fed hiking concerns | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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