European shares opened on a cautious note – The Obs

(Reuters) -. The main European stock markets opened on a cautious note Monday after Chinese indicators have confirmed the slowdown in the second world economy

In Paris, the CAC 40 drops 0 43% to 4398.24 point to 8:20 GMT. In Frankfurt, the Dax yields 0.18% and London, the FTSE 0.08%. The EuroStoxx 50 index of euro zone fell by 0.4% while the FTSEurofirst 300 is virtually unchanged.

The Tokyo Stock Exchange ended sharply higher, 1.98%, still driven by . the surprise decision by the Bank of Japan to adopt a negative rate on new deposits of banks with her fight against deflation

The Chinese markets, they have finished in the red (- 1.77% for the Shanghai Composite Index) after the results of PMI in the manufacturing sector, one of which is the lowest since mid-2012.

These indicators, and the announcement a sharp decline in South Korean exports, the lowest since the financial crisis, contributing to a decline of over 2% in oil, as the absence of concrete evidence would expect a reduction of the global oversupply short-term crude oil.

Oil, like other commodities traded in dollars, also suffered from the appreciation of the dollar, helped by the growing divergence between the monetary policy of the US Federal Reserve and those of other major central banks.

The European session will be moderated notably by the final results of Markit PMI surveys in the manufacturing sector.

Values, Vallourec remains suspended from listing after announcing a capital increase of one billion euros and a new restructuring plan of its activities.

Nokia fall of nearly 10%, the worst performance of EuroStoxx 50, after an arbitration decision in a dispute with Samsung over patents, financial information given by the group on the impact of this matter are lower than the market expectations. In its wake, Alcatel-Lucent loses 9.9%

On the upside, Bankia takes more than 8% and ranks ahead of the FTSEurofirst 300 after its financial results, its net profit rose nearly 40% in 2015.

(Marc Angrand for the French service, edited by Benoit Van Overstraeten)