Sawt Falasteen - Global stocks mixed after weak China data

Data showed China's recovery after lifting Covid restrictions was faltering as the economy grew by 6.3 percent in the second quarter, much lower than expected by analysts surveyed by AFP.

The National Bureau of Statistics added that youth unemployment hit a record 21.3 percent in June and retail sales also missed estimates, adding to months of data highlighting softness in the world's number-two economy.

"China's recovery is going from bad to worse," said Harry Murphy Cruise at Moody's Analytics.

The readings will further stoke calls for authorities to announce more measures to fire up growth, having cut interest rates last month.

The data weighed on oil prices, as well as equity markets in Shanghai and Europe.

While traders reacted to economic storm clouds, a typhoon forced the closure of the Hong Kong stock market.

European stocks finished lower across the board in afternoon trading following a mostly gloomy Asian session. Paris fell 1.1 percent as shares in luxury firms took a hit from the news on China, a major market for their sales growth in recent years.

But after a sluggish start, major indices in New York pushed higher, with the S&P 500 finishing up 0.4 percent.

"There weren't any meaningful news drivers to account for today's buying interest," said Briefing.com.

"Rather, it was more of the same buying on weakness and forging ahead on the hopeful notion that the US economy will avoid a hard landing, that the (Federal Reserve) is close to done raising interest rates, and that earnings growth will return in the second half of the year."

Investors will keep a close eye on fresh company results, with Bank of America, Tesla, Netflix and EasyJet among those reporting this week.

The quarterly earnings reporting season got off to a strong start last week with banks JPMorgan Chase and Wells Fargo beating expectations.

In the commodities market, wheat and corn futures wobbled after Russia said it was exiting a major agreement allowing Ukraine grain exports.

Wheat futures rose as much as 4.2 percent and corn peaked at 2.5 percent following the announcement but prices fell into the red later in the day.

Over the course of the last year, the Black Sea Grain Initiative has enabled the export in cargo of more than 32 million tons of Ukrainian grain, helping avoid shortages on markets and bring prices down after they spiked following the outbreak of war.

- Key figures around 2040 GMT -

New York - Dow: UP 0.2 percent at 34,585.35 (close)

New York - S&P 500: UP 0.4 percent at 4,522.79 (close)

New York - Nasdaq: UP 0.9 percent at 14,244.95 (close)

London - FTSE 100: DOWN 0.4 percent at 7,406.42 (close)

Frankfurt - DAX: DOWN 0.2 percent at 16,068.65 (close)

Paris - CAC 40: DOWN 1.1 percent at 7,291.66 (close)

EURO STOXX 50: DOWN 1.0 percent at 4,356.79 (close)

Shanghai - Composite: DOWN 0.9 percent at 3,209.63 (close)

Tokyo - Nikkei 225: Closed for a holiday

Hong Kong - Hang Seng Index: Closed because of storm

Euro/dollar: UP at $1.1244 from $1.1228 on Friday

Dollar/yen: DOWN at 138.70 yen from 138.80 yen

Pound/dollar: DOWN at $1.3075 from $1.3093

Euro/pound: UP at 85.97 pence from 85.75 pence

West Texas Intermediate: DOWN 1.7 percent at $74.15 per barrel

Brent North Sea crude: DOWN 1.7 percent at $78.50 per barrel

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Z.AlNajjar--SF-PST