Europe Factors to Watch-Shares set to bounce after Chinese data

miércoles 16 de abril de 2014 02:30 GYT
 

(Adds futures prices, company news items)

LONDON, April 16 (Reuters) - European equity futures rose on Wednesday, recouping some of the previous session's losses after China reported economic growth a touch above forecasts, which helped support Asian stock markets.

The euro zone's Euro STOXX 50 futures contract rose 1.4 percent, Germany's DAX futures progressed by 1.1 percent while France's CAC futures rose 1.3 percent by 0620 GMT.

China's economy grew at its slowest pace in 18 months in the first quarter of 2014, official data showed on Wednesday, with signs of waning momentum already prompting limited government action to steady the world's second-largest economy.

However, the Chinese data, which showed 7.4 percent growth, came in slightly stronger than the median forecast of 7.3 percent in a Reuters poll although it showed a slowdown from growth of 7.7 percent in the final quarter of 2013.

Investors also kept an eye on the crisis in Ukraine, where pro-Russian supporters in the east of the country have clashed with Ukrainian authorities.

"The markets are a bit firmer on the back of the Chinese data, which came in slightly better than expected," said Darren Courtney-Cook, head of trading at Central Markets Investments Management.

"But I would still sell strength on the DAX. I can see the DAX moving up to around 9,400 points, but then failing to get there and going back down to 9,000," he added.

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