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EUROPE ECONOMICS: European Stocks Weaker, China Rises

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Last updated: 08/12/2019 07:28:09

07:28 AM EDT, 08/12/2019 (MT Newswires) -- European stock markets erased early gains and were lower at midday. The DAX was off 0.2% while the FTSE shed -0.6%, with political risks curbing investor appetite. With Japan on holiday, Asia still had a largely positive session and mainland China bourses closed with marked gains, amid the Hang Seng losing -0.44% as political protests continue to escalate, while CSI 300 and Shanghai Comp rose 1.8% and 1.5% respectively, amid hopes that the PBOC will continue to keep rates low, although comments from U.S. President Trump saying that he would be "fine" if trade talks scheduled for next month won't happen. Trade jitters and political tensions continue to underpin safe haven demand and in Europe the risk of a government collapse in Italy and the U.K.'s "no-deal" Brexit course are weighing on confidence.

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