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John Wang
May 7 19:40

European stocks boosted by Chinese trade data

Mixed reports impact the market as well.
European stocks gained on May 7. The markets were boosted by the positive Chinese trade data that surpassed the expectations.
By 08:20 GMT DAX gained 0.6%. CAC 40 gained 0.5%. FTSE index gained 0.3%.
Earlier this day Chinese government published report on its trade. Last month exports went up 3.5% on a year. This is an unexpected dynamic - according to the forecasts, exports were supposed to contract 15.1%. Meanwhile national imports dropped 14.2%.
Luis de Guindos - the VP of the European Central Bank - stated that more fiscal cooperation in EU is needed.  He also warned, that the region is going into a severe recession and called for decisive actions in order to fight the crisis.
Meanwhile Zalando shares jumped up 10%. The German e-commerce platform promised a double-digit growth this year.
On the other hand, BT Group stock lost more than 8%. The group stated that the dividend payments will be suspended until 2022. The company is trying to save the budget to cover the restructuring efforts.