China’s flu has not turned into a cold in Europe. After an 8% sell off in China, markets in Europe were only slightly down at 4:30 Eastern Time.
The FTSE was off only .3% to 6,562.
The DAX was only lower by 1.1% to 11,219. Germany’s Ifo showed the largest economy in Europe remained strong.
According to the research group
The Ifo Business Climate Index for German trade and industry rose to 108.0 points in July from 107.5 points last month. Assessments of the current business situation improved significantly after last month’s setback. Business expectations were also somewhat more optimistic after declining for three consecutive months. The recent easing of the Greece situation contributed to stronger sentiment in the German economy.
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