European shares to open lower after poor Chinese and German data – business live

Boost from Friday’s better-than-expected US jobs numbers fades; oil prices climb after the extension of production cuts

7.49am BST

Good morning and welcome to our rolling coverage of the world economy, the financial markets and business.

There was a massive surge in stocks on Wall Street and Europe on Friday after unexpectedly good news from the US jobs market. The unemployment rate took markets by surprise and dropped to 13.3% in May, rather than rising to close to 20%, as expected. The closely watched US non-farm payrolls data showed the economy added 2.5 million jobs last month, against expectations for 8 million job losses.

As expected German industrial production fell into an abyss in April, -17.9% m/m. Autos -75% as factories were shut. But a relief is that construction held up (-4.1%) despite nosediving sentiment. A huge difference to FR, IT & ES where sector was largely shut already in March. pic.twitter.com/NLsdE6sWvv

The flights are full outbound of the UK. British people are ignoring this quarantine, they know it’s rubbish.

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Want to know more on European Stock Market to open lower after poor Chinese and German data – business live click here go to market news source. Market news summary from The Guardian Market News.Author: Julia …

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Want to know more on European Stock Market to open lower after poor Chinese and German data – business live click here go to market news source.
Market news summary from The Guardian Market News.
Author: Julia Kollewe



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