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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Stocks set to slide after Chinese economic growth cools

Growth of 6.7% would be great for most economies ... but not China

Markets are lacking that Friday feeling after some pedestrian Chinese gross domestic product data.

The People's Republic's economy grew at its slowest pace in seven years during the first quarter, rising 6.7% year-on-year. While most economies would be more than happy with that sort of growth rate, markets have come to expect more from China – although in this case the growth rate was in line or even slightly higher than economists had been expecting.

Nevertheless, the S&P 500, which closed at 2,083 last night, is expected to open at just below 2,080.

The Dow, according to spread-betting quotes, is set to open around 17,907, down almost 20 points.

If those prognostications prove correct, US markets would only be following the example of European markets, which are having a drab end to the week.

Some investors were doubtless taking money off the table ahead of the Opec meeting this weekend and the G20 meeting today.

Domestically, focus is likely to be on results from banking giant Citigroup (NYSE:C).

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