The print is reflective of a slowdown in China’s economy and opens the prospect for additional monetary policy easing from the PBOC in the months ahead.
The FTSE is off around 1% as of 8:30 a.m. UK time.
Asian markets are down after a tough session in the US. Japan`s Nikkei fell 1.89%.
Glencore continues its trend downwards after recovering from a sub-70 pence plunge at the end of last month. The mining company`s stock is down almost 5%, trading at around 112 pence.
Most of the major European share markets are heading south at the start of trading.
Here`s the scoreboard as of 8:30 a.m. UK time:
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