European equities stumble on poor data


The main European stock markets and Wall Street stumbled Friday on disappointing economic data during the weekend.

The oil market slipped slightly after starting higher and staying on track for its fifth weekly fall, hampered by concerns about an overabundance of obstinate supply.

European stock markets are "on the back, with a host of euro area PMI surveys … providing a somewhat cautious appraisal," said analyst Joshua Mahony at the negotiating firm IG.

London shares were underway for a fourth consecutive day of losses a year after Britain fell to its neighbors by voting to leave the European Union, the FTSE 100 stock index Foreground sagging 0.3 percent in the middle of the afternoon.

Sterling strengthened 0.3 percent Friday, but Tuesday's close of $ 1,2661 compared to its Brinkit level of 1.4797 on the day of the preview for a 15% decline of 12 month.

Eurozone private sector activity slowed sharply in June, but it was still operating at over six years, a monitored survey showed on Friday.

Analysts said that even if the slowdown in securities readings was disappointing, the economy continued to perform strongly.

Data Monitoring Corporation IHS Markit said its junior composite purchasing managers (PMI) index reached 55.7 points, the lowest reading in five months and down from 56, 8 in May.

Any reading above the 50-point boom-bust line indicates that the economy is expanding.

"After a series of unusually strong figures, the euro-zone composite PMI came down to earth in June," said UniCredit economist Edoardo Campanella.

"While the decline in the composite PMI was caused by a slowdown in the service industry, which is often subject to significant monthly volatility, the manufacturing sector remains in good shape," he warned.

The PMI measures the willingness of companies to invest in their business and thus gives a good idea of ​​the performance of the underlying economy.

The Asian stock markets have overwhelmed the weekend, energy companies struggling again after bruising a few days.

Oil prices slipped slightly at the end of a tumultuous week that saw the collapse of New York's oil sticking to ten months on concerns related to an overabundance of " 39, global supply and US production overshadow production cuts by OPEC and Russia.

The net losses of the week hit energy companies and, despite another takeover of the merchandise, they continue to fight.

Meanwhile, traders follow events in Washington, where Republican senators have unveiled a revised health bill to clinch Obamacare, which market players hope to pass through Congress.



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