European Factors to Watch-European shares seen falling sharply at open

jueves 7 de enero de 2016 02:35 GYT
 

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LONDON Jan 7 (Reuters) - European shares were expected to fall sharply at the open on Thursday, after China accelerated the depreciation of the yuan, sending currencies across the region reeling and domestic stock markets tumbling.

Financial spreadbetters expected Britain's FTSE 100 to open down by 77-79 points, or 1.3 percent lower.

Germany's DAX was seen down by 170-179 points, or 1.7-1.8 percent lower, while France's CAC was seen down by 64-67 points, or 1.4-1.5 percent lower.

The People's Bank of China (PBOC) again surprised markets by setting the official midpoint rate on the yuan CNY=SAEC, also known as the renminbi (RMB), at 6.5646 per dollar, the lowest since March 2011.

China's stock markets were suspended for the rest of the day less than half an hour after opening as a new circuit-breaking mechanism was tripped for the second time this week.

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