Solid Chinese trade figures underpins global markets
LONDON (AP) - Solid Chinese trade data underpinned most global stock markets on Thursday, though Japanese shares underperformed for the second day running as the yen rallied again.
China's exports and imports both increased in July, beating expectations and easing concerns over the slowdown in the world's second-largest economy. Exports were up 5.1 per cent from a year earlier, while imports jumped 10.9 per cent.
"The report has boosted investor optimism that the Chinese economy may be at least stabilising in the near-term," said Mr Lee Hardman, an analyst at Bank of Tokyo-Mitsubishi UFJ.
In Europe, the FTSE 100 index of leading British shares was up 0.4 per cent at 6,534 while Germany's DAX rose the same rate to 8,296. The CAC-40 in France was 0.5 per cent higher at 4,057.