Stock indices rebounded after the yesterday's significant drop. The People's Bank of China (PBoC) has devaluated the yuan for the third day. But the central bank tried to reassure market participants on Thursday, saying there was no basis for further yuan devaluation.
The yuan depreciated 1.9% on Tuesday, 1.6% on Wednesday and 1.1% today. China's central bank set Thursday's daily fixing at 6.4010 per U.S. dollar, down from 6.3306 on Wednesday.
Meanwhile, the economic data from the Eurozone was weak. German final consumer price index rose 0.2% in July, in line with the preliminary estimate, after a 0.1% decline in June.
On a yearly basis, German final consumer price index decreased to 0.2% in July from 0.3% in June, in line with the preliminary estimate. It was the lowest level since February.
The decline was driven by falling energy prices, which dropped 6.2% year-on-year in July.
The French consumer price inflation dropped 0.4% in July, after a 0.1% decrease in June.
On a yearly basis, the consumer price index climbed 0.2% in July, after a 0.3% rise in June.
Name Price Change Change %
FTSE 100 6,612.4 41.21 0.63 %
DAX 11,085.82 161.21 1.48 %
CAC 40 5,004.22 78.79 1.60 %