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- European stock markets mid session: stocks drop more than 2%
European stock markets mid session: stocks drop more than 2%
Stock indices dropped more than 2% in the morning trading session, following Asian stock indices. The Japanese Nikkei stock index fell almost 4%, while China's Shanghai Composite declined more than 8%.
Concerns over a slowdown in the Chinese economy weighed on markets.
China allowed pension funds to invest in domestic stocks. Pension funds are now able to invest up to 30% of their net assets in domestic stocks.
China hopes with this decision to boost the liquidity on the stock market and to stop a massive selloff.
The Confederation of British Industry (CBI) released its economic growth forecasts for the U.K. The CBI expects Britain's economy to expand 2.6% this year, up from the previous estimate of 2.4%, and 2.8% in 2016, up from the previous estimate of 2.5%.
The upgrade was driven by higher increase in in productivity and household spending.
Current figures:
Name Price Change Change %
FTSE 100 6,045.23 -142.42 -2.30 %
DAX 9,882.13 -242.39 -2.39 %
CAC 40 4,525.13 -105.86 -2.29 %
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