Overseas Trading: Europe Down as China, Earnings Trump Oil

China's third-quarter gross domestic product (GDP) arrived in line with economists' estimate

by Kirra Fedyszyn

Published on Oct 19, 2016 at 8:46 AM

It was a mixed finish in Asia, after a 6.7% rise in China's third-quarter gross domestic product (GDP) arrived in line with expectations. The country also reported retail sales for last month that matched the consensus estimate, while industrial production fell short in September. China's Shanghai Composite closed up 0.05%.

Elsewhere in the region, gaming stocks continued to pressure Hong Kong's Hang Seng, with the index dropping 0.4%, while South Korea's Kospi finished fractionally higher. Japan's Nikkei added 0.2% amid a low-volume session, even as a strengthening yen weighed on exporters.

Stocks in Europe are lower at midday, as traders digest China's batch of economic data. A round of mixed earnings are also in focus, although energy stocks are getting a boost from higher crude oil prices. At last check, Brent crude futures were up more than 1%, after Saudi Arabia's oil minister waxed optimistic over global efforts to cut oil production and stabilize prices. At last check, London's FTSE 100 and France's CAC 40 have shed 0.1% each, and Germany's DAX is down 0.2%. 

overseas stocks october 19

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