Global markets enjoy buoyant Chinese economic data
In currency markets, the pound pulled further away from last week's two-month highs against the euro as investors awaited the next Brexit steps
London — World stock markets kept their nerve on Monday, as data showed that the Chinese economy slowed in 2018, underlining the need for more stimulus from Beijing. European stock markets opened broadly lower as a note of caution set in with British Prime Minister Theresa May set to present her “plan B” for Brexit to parliament later in the day. Trade in general was subdued with US markets closed for the Martin Luther King Jr Day. World markets appeared to experience some relief thanks to data showing that the Chinese economy, the world's second biggest, grew 6.4% in the fourth quarter from a year earlier, matching levels last seen in early 2009 during the global financial crisis. But the data was in line with forecasts and there were some bright spots, with factory output picking up stronger-than-expected in December and a stronger services sector. “On balance, the data is relatively positive and does not point to a hard landing,” said Timothy Graf, head of macro strategy at State...
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