| schema:articleBody
| - European stocks fell Thursday, with dealers booking profits as the ECB prepared to give an update regarding measures to tackle economic fallout triggered by the coronavirus pandemic. By early afternoon, Frankfurt's DAX 30 had shed 0.6 percent and the Paris CAC 40 0.8 percent. Outside the eurozone, London's FTSE 100 index retreated 0.5 percent. The euro was up against the pound but down versus the dollar. European Central Bank governors are expected to refrain from doling out fresh stimulus medicine Thursday, hoping EU leaders will do their bit to shore up the crisis-hit region with a huge coronavirus recovery plan. The ECB meeting comes on the eve of an European Union summit in Brussels where leaders will wrangle over a proposed 750-billion-euro ($847-billion) recovery fund to kickstart the bloc's battered economy. Europe's stock markets had risen sharply Wednesday on hopes for a coronavirus vaccine and more US financial stimulus, dealers said. Earlier Thursday, Asian equities dropped as investors fretted over fresh spikes in virus infections around the world and the reimposition of lockdowns, while forecast-busting economic growth data out of China was unable to break through the unease on trading floors. While markets have been rallying since hitting their low points in March -- thanks to government support and the easing of lockdowns -- traders have had to juggle hopes for economic recovery with the reality of a deadly virus that is sweeping the globe. Geopolitical tensions, particularly between China and the United States, were also fanning uncertainty. Beijing said the world's second biggest economy expanded 3.2 percent in the second quarter, much better than the 1.3 percent tipped in an AFP poll of economists, indicating China is well on the road to recovery after months of lockdowns that caused a first-quarter contraction. However, while the reading was welcomed, analysts said investors had largely priced-in a recovery and pointed to a worse-than-expected drop in retail sales in June -- a small rise had been forecast -- suggesting consumers are still reluctant to spend. Shanghai's stocks index plunged more than four percent, extending a recent sell-off after soaring around 15 percent this month, with analysts suggesting funds working for authorities on the mainland are selling shares to avert another bubble and bust similar to the one seen in 2015. Hong Kong lost two percent and Sydney and Singapore fell 0.7 percent. The head of the International Monetary Fund has warned that the world economy was "not out of the woods", despite signs of improvement, with challenges including a possible second wave of infections. Kristalina Georgieva said in a blog post that the $11 trillion in stimulus provided by G20 nations helped to prevent a worse outcome, but "these safety nets must be maintained as needed and, in some cases, expanded". Elsewhere Thursday, oil markets dropped after rallying more than two percent Wednesday on signs of a huge drawdown in US inventories, which boosted demand hopes. Investors were also looking to an expected pick-up in output from major producers, who have embarked on a massive output cut since earlier this year to fight a global glut that sent prices crashing below zero. However, the OPEC+ grouping expects the increase in oil will be offset by improving demand and compensatory reductions by countries that had not made big enough cuts previously. London - FTSE 100: DOWN 0.5 percent at 6,261.69 points Frankfurt - DAX 30: DOWN 0.6 percent at 12,854.10 Paris - CAC 40: DOWN 0.8 percent at 5,070.89 EURO STOXX 50: DOWN 0.7 percent at 3,356.31 Tokyo - Nikkei 225: DOWN 0.8 percent at 22,770.36 (close) Hong Kong - Hang Seng: DOWN 2.0 percent at 24,970.69 (close) Shanghai - Composite: DOWN 4.5 percent at 3,210.10 (close) New York - Dow: UP 0.9 percent at 26,870.10 (close) West Texas Intermediate: DOWN 1.2 percent at $40.71 per barrel Brent North Sea crude: DOWN 0.8 percent at $43.43 Euro/dollar: DOWN at $1.1396 from $1.1410 at 2100 GMT Dollar/yen: UP at 107.14 yen from 106.92 yen Pound/dollar: DOWN at $1.2532 from $1.2589 Euro/pound: UP at 90.91 pence from 90.62 yen dan-bcp/rfj/jh
|
![[RDF Data]](/fct/images/sw-rdf-blue.png)
![[cxml]](/fct/images/cxml_doc.png)
![[csv]](/fct/images/csv_doc.png)
![[text]](/fct/images/ntriples_doc.png)
![[turtle]](/fct/images/n3turtle_doc.png)
![[ld+json]](/fct/images/jsonld_doc.png)
![[rdf+json]](/fct/images/json_doc.png)
![[rdf+xml]](/fct/images/xml_doc.png)
![[atom+xml]](/fct/images/atom_doc.png)
![[html]](/fct/images/html_doc.png)