European stocks are in the red early Thursday after a wave of disappointing economic data.
Here’s the scoreboard:
Britain’s FTSE 100 is down 0.6%.
France’s CAC 40 is down 1.0%.
Germany’s DAX is down 1.0%.
Spain’s IBEX is down 1.8%.
Italy’s FTSE MIB is down 1.8%.
Chinese export growth missed expectations in June, Italy’s industrial production fell by an unexpected 1.2% in May, France inflation and production numbers were much worse than expected, and Japan posted a record 20% drop in machine orders in May.
Japan’s Nikkei closed down 0.56%, while Hong Kong’s Hang Seng is up 0.27%.
Trouble at the biggest Portuguese bank, Espirito Santo, is causing a surge in the country’s interest rates. Portugal’s PSI 20 is tumbling, down 3.36%. Here’s a look at what’s happening from Bloomberg: