China’s 2014 GDP data came in stronger than expected overnight, at 7.4%, just shy of the government’s official target of 7.5%. Asian and European markets have responded positively.
Here’s the scorecard:
France’s CAC 40: +0.46%
Germany’s DAX: +0.31%
UK’s FTSE 100: +0.44%
Spain’s IBEX: +10.55%
Italy’s FTSE MIB: +0.23%
In Asia, markets climbed too. The Shanghai Composite climbed 1.82%, making up some of Monday drop, which at 7.7% was the largest the index has seen since 2008. Japan’s Nikkei climbed 2.07% and Hong Kong’s Hang Seng climbed 0.90%.
US futures are higher too. the S&P is up 5.75 points and the Dow is 45 points above Monday’s close.
Later today, at 10 a.m. GMT, the ZEW index of German investors is out, gauging the level of confidence in Europe’s largest economy. Analysts are expecting another modest improvement this month, after a terrible fourth quarter.