Benzinga | Apr 07, 2014 10:22AM ET
On Monday, the World Bank revised its growth expectations for the developing East Asia and Pacific region down to 7.1 percent for 2014 and 2015 from its previous forecast of 7.2 percent growth.
The bank also trimmed its growth expectations in 2014 for China from 7.7 percent to 7.6 percent, citing the nation’s “bumpy start to the year."
Chinese industrial production and exports have been lack luster so far this year, and the bank took that into account when coming up with the forecast.
Despite the decreased growth expectations, the World Bank did say it expected to see China’s economy improve midyear as demand from other, recovering nations increases.
h3 Top News /h3In other news around the markets:
Asian markets were mixed; the Japanese NIKKEI was down 1.69 percent and the Hang Seng index fell 0.59 percent. However the Shanghai composite was up 0.74 percent and the Shenzhen composite rose 1.08 percent.
h3 European Markets/h3European markets were down across the board; the UK’s FTSE was down 0.32 percent, the eurozone STOXX 600 lost 0.63 percent and the German DAX was down 0.92 percent. France’s CAC 40 lost 0.46 percent, Italy’s MIB was down 0.32 percent and the Spanish IBEX fell 0.20 percent.
h3 Commodities/h3Energy futures were lower; Brent futures for May delivery lost 0.98 percent and WTI futures for May delivery were down 0.51 percent. Precious metals were also lower, with gold and silver down 0.34 percent and 0.68 percent respectively. Industrial metals were down with the exception of zinc, which gained 1.01 percent.
h3 Currencies/h3Currency markets were quiet, the euro gained 0.10 percent against the dollar and 0.12 percent against the pound. The dollar lost 0.20 percent against the franc and 0.04 percent against the yen.
h3 Earnings/h3Notable earnings released on Friday included:
Stocks moving in the Premarket included:
Notable earnings releases expected on Monday include:
Monday’s economic calendar will be thin with releases including US consumer credit, eurozone investor confidence, German and Spanish industrial production and Swiss CPI.
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