European and Asian stock markets diverge due to weak eurozone data and China's rate cut.

European and Asian stock markets exhibited a divergence on Monday, responding to weak eurozone economic data and a rate cut by China's central bank. Eurozone business activity fell for the first time in seven months, with the PMI dropping to 48.9. In contrast, Shanghai's market rose despite record youth unemployment in China, prompting hopes for further stimulus. Meanwhile, oil prices increased amid Middle East tensions, while gold prices remained near record highs.

September 23, 2024
3 Articles

Further Reading