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Monday 28.05.2018 | Name days: Vilhelms, Vilis

Instability in Europe's stock markets amid China's troubles

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

Western Europe’s largest stock exchanges on Wednesday, August 26, saw a small rise in indices, after they fell sharply this week under the influence of the almost uncontrolled fall of Chinese stocks.

On Wednesday, London’s FTSE 100 was 0.03% higher in afternoon trade, with markets in Paris and Frankfurt up by similar amounts, BBC reports.

«These are the sorts of swings that we last saw in 2008,» said Michael Hewson, chief market analyst at CMC Markets, to BBC adding that volatility will persist through September.

Oil and metals prices were also under pressure, with Brent crude edging close to six-year lows.

The recent global stock market fluctuations began in China, where the benchmark Shanghai Composite has lost about 16% of its value on Monday and Tuesday. On Wednesday, the Shanghai index edged down 1.27% to 2,927.29, after veering in and out of negative territory.

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