European equities wobble

first three months in order just to give them all back again within the span of six weeks and now they moved up again hugely over the last few weeks close the highs of the year,” Siddiqi suggested.
Earlier yesterday, most Asian stock markets closed higher as data showed China’s growth slowed and inflation hit a two-and-a-half-year low.
That boosted expectations of fresh monetary policy action in the world’s second biggest economy.
China’s consumer price index rose 1,8 percent year-on-year in July, in line with forecasts but down from 2,2 percent in June and its slowest pace since January 2010.
The figures indicate Beijing — which has cut interest rates twice this year and lowered the amount of cash banks must keep in reserve — has more room to loosen monetary policy.
“Chinese economic data has arguably been the most awaited news,” said GFT analyst Fawad Razaqzada.
“Whether it’s going to be sufficient to see Beijing ease up on its monetary policy is open for debate.”
On the company earnings front, the second biggest German bank, Commerzbank, said it expected net profit in the second half of the year to be lower than in the first, with no end to the eurozone debt crisis in sight.
In reaction, the lender’s share price tumbled 3,74 percent to 1,24 euros in Frankfurt.
Commerzbank said its January-June net profit amounted to 644 million euros (US$797 million), down 36 percent from a year                                 earlier.
Shares in telecoms giant Deutsche Telekom sank 2,22 percent to 9,18 euros despite the group sticking to its full-year target for stable earnings.
British insurer Aviva saw its share price slip 0,19 percent to 317,60 pence, after posting a first-half net loss on the back of restructuring costs, adverse foreign exchange movements and bad weather.
The group said it made a loss after taxation of £745 million (US$1,17 billion) in the six months to June, compared with a net profit of £125 million a year earlier. — AFP.