Business
Global Markets Mixed as Asian Stocks Rise, European Indices Diverge
Asian equity markets recorded strong gains, led by South Korea’s Kospi, while European markets showed a mixed trend with Germany’s DAX higher and London’s FTSE 100 lower amid fresh UK economic growth data.
Asian equity markets recorded strong gains today, with South Korea’s Kospi index rising nearly 3.6 per cent and Japan’s Nikkei 225 advancing around 1.2 per cent.
The positive trend in Asia contrasted with mixed movements across major European markets. Germany’s DAX was trading 0.4 per cent higher, while London’s FTSE 100 declined 0.3 per cent when reports last came in.
On the economic front, the United Kingdom’s real gross domestic product (GDP) is estimated to have increased by 0.4 per cent in the April-June quarter, slowing from 0.6 per cent growth recorded in the first quarter of the year.
According to GDP figures released by the Office for National Statistics (ONS), the UK economy grew by 0.3 per cent in June, following no growth in the previous month.
The latest figures point to a moderation in quarterly UK economic growth, although the return to monthly growth in June indicates some improvement in economic activity towards the end of the quarter.
