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China Stocks Rises on Expected Merger Boom in State-Owned Enterprises

June 30, 2023
in Trade Tube
Reading Time: 1 min read
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European stocks were mixed on Monday amid continued bailout talks between Greece and international creditors. In London, Metals and mining stocks including Anglo American and BHP Billion 2.214% fell on news of an unexpected 8.3% drop in Chinese exports in July and an 8.1% slump in imports, along with the biggest decline in Chinese producer prices in nearly six years. Dixons Carphone also fell after the company said its Carphone Warehouse business had been hit by a cyber attack. Insurer Esure retreated on disappointing half-year results. In China, the economic news was eclipsed by speculation of a government-fueled merger boom in state-owned industries, fueled by a report in the South China Morning Post.

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