Shares fell worldwide on Thursday on worries about China’s slowdown and its impact on corporate earnings. These fears weighed heavier than tokens that Europe slowly might drag itself out of recession. Data showing better business morale in Germany and improvements in British economy pointing towards modest growth, did little to spark fresh demand from investors more focused on recent developments in Asia.
Investors worry that the Chinese growth engine is no longer running at full power. Chinese stocks suffered their second straight loss on Thursday despite measures from the government to spur the economy with heavy investments in railway and encouragement of the export industry. The Asia-Pacific, MSCI-index, lost 0,5 % from the previous day’s seven week closing high. Worries about China were also reflected in commodity markets, where copper dropped 0,5 %. Brent crude fell for a second day in row at USD 106,59 a barrel. Gold stands at USD 1314.
There have been marginal changes in the currencies. EUR/USD has lost 35 points and trades at 1.3196. The Japanese Yen (JPY) trades stronger against the USD at 99,68. The dollar is again dipping below the 100 yen a dollar mark.
Facebook shares soar after the social media delivered much stronger results than expected. Presented quarterly earnings delivered strong evidence that Facebook can drive on smartphones and tablets. Advertising revenue in the second quarter ignited a nearly 17 % share a rally. 700 million people daily use the Facebook platform. Facebook which was off to a rocky start when it introduced its IP in May 2012. In spite of a 15 % increase in the stock price yesterday, Facebook has still 20 % to go to reach its IPO-price.
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