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European Shares Set To Open Lower After China Data

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European stocks are set to open lower on Tuesday as Chinese economic data disappointed and investors waited for any signs of compromise on U.S. tax policy.

Asian stock markets are trading mostly lower after a deluge of Chinese data showed growth in industrial output, retail sales and fixed asset investment slowed in October.

Industrial output grew an annual 6.2 percent, missing forecasts for 6.3 percent growth and down from 6.6 percent in September.

Retail sales advanced 10.0 percent - again missing expectations for 10.5 percent growth and down from 10.3 percent in the previous month.

Fixed asset investment grew 7.3 percent from a year earlier, matching expectations and slowing from 7.5 percent a month earlier.

Gold held steady and oil treaded water as higher U.S. Treasury yields helped underpin the dollar. The pound remained weak on concerns surrounding Prime Minister Theresa May's political future.

Overnight, U.S. stocks finished marginally higher to halt a two-day slide following a flurry of corporate news.

In Europe, the pan-European Stoxx Europe 600 index shed 0.7 percent on Monday as investors digested more earnings and monitored political developments in the U.K.

The German DAX dropped 0.4 percent, France's CAC 40 index declined 0.7 percent and the U.K.'s FTSE 100 eased 0.2 percent.

by RTT Staff Writer

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