{"id":15237,"date":"2021-10-21T05:37:58","date_gmt":"2021-10-21T05:37:58","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/10\/21\/european-shares-headed-for-weak-opening\/"},"modified":"2021-10-21T05:37:58","modified_gmt":"2021-10-21T05:37:58","slug":"european-shares-headed-for-weak-opening","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/10\/21\/european-shares-headed-for-weak-opening\/","title":{"rendered":"European Shares Headed For Weak Opening"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> European stocks are likely to open lower on Thursday as investors fret about the debt woes in China&#8217;s property sector and react to the latest batch of earnings results from the United States. <\/p>\n<p>Tesla&#8217;s third-quarter revenue beat expectations, while IBM reported lower revenue than analysts had expected after the closing bell Wednesday. <\/p>\n<p>Asian <span class=\"landLinks\">markets<\/span> traded mixed, giving up early gains after an asset sale at embattled developer Evergrande collapsed.<\/p>\n<p>The heavily indebted developer at the centre of a credit crunch in China&#8217;s real estate sector announced that a deal to sell a $2.6bn stake in its property services unit had fallen through.<\/p>\n<p>The latest setback comes just ahead of the expiry of a 30-day grace period for Evergrande to pay $83.5 million in coupon payments for an offshore bond.<\/p>\n<p>Statements from other property developers also exacerbated investor concern of contagion.<\/p>\n<p>Chinese Estates Holdings said it would book a loss of $29m in its current fiscal year from the sale of bonds issued by property developer Kaisa Group.<\/p>\n<p>Modern Land has withdrawn its plan seeking permission from its debtholders to allow the Chinese property developer to delay repaying a $250 million bond.<\/p>\n<p>Gold nudged higher on a weaker dollar, while oil gave up early gains on concerns about elevated inflation and risks from China&#8217;s property sector. <\/p>\n<p>Public sector finance data from the U.K. and <span class=\"landLinks\">business<\/span> confidence survey results from France are due later in the session, headlining a light day for the European economic news.<\/p>\n<p>Across the Atlantic, trading could be impacted by reaction to reports on weekly jobless claims, existing home sales and leading economic indicator.<\/p>\n<p>Overnight, U.S. stocks ended broadly higher as traders reacted positively to another batch of largely upbeat corporate earnings news and shrugged off the Fed&#8217;s Beige Book report showing that labor and supply shortages are cramping the U.S. <span class=\"landLinks\">economy<\/span>.<\/p>\n<p>The Dow and the S&amp;P 500 both rose about 0.4 percent while the tech-heavy Nasdaq Composite index ended marginally lower.<\/p>\n<p>European markets hit six-week highs on Wednesday as the third-quarter earnings season unfolds.<\/p>\n<p>The pan European Stoxx 600 advanced 0.3 percent. The German DAX and the U.K.&#8217;s FTSE 100 both inched up marginally while France&#8217;s CAC 40 index gained half a percent. <\/p>\n<\/p>\n<p>Business News<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>European Shares Headed For Weak Opening<\/a><br \/>\n<br \/>2021-10-21 05:37:58<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks are likely to open lower on Thursday as investors fret about the debt woes in China&#8217;s property sector and react to the latest batch of earnings results from&#8230;<\/p>\n","protected":false},"author":2,"featured_media":15238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-15237","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/15237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=15237"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/15237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/15238"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=15237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=15237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=15237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}