LONDON ( The Deal) -- Jitters and risk aversion are the themes across Asia and Europe Friday as the prospect of U.S. airstrikes in Iraq, renewed violence in Gaza and a steady increase in tension in Ukraine all bear heavily on the mood.
Asian and European markets followed Wall Street down overnight, with Tokyo losing almost 3% to close at 14,778.37, its worst single-session performance since February. China bucked the Asian trend, however, after announcing much better-than-expected export figures for July. Government data showed a rise of 14.4% compared with the same month last year, which was more than double analysts' prediction of 7%. The Shanghai composite closed up 0.31% at 2,194.42. Another outlier was Moscow, where the MICEX was up 1.14% at 1,348.7.
Germany's DAX index dropped nearly 1% to fall below the psychological 9,000 mark. At 8,952.75, it's now more than 10% below its June peak. It hasn't helped the German market that China's antitrust probe into foreign automakers has hit the shares of the big German brands, Volkswagen, Daimler and BMW, down 1.72% at 162.75 euros, 1.07% at 58.32 euros and 1.15% at 85.21 euros, respectively.
French digital security provider Gemalto was up 4.4% on news of its $890 million agreement to acquire Belcamp, Md., peer SafeNet from Vector Capital. Amsterdam-listed Gemalto said it will fund the deal from its balance sheet and existing credit facililities and that the acquisition will add about 10% to its previous profit expectations of 600 million euros ($800 million) by 2017.
The CAC 40 was down 0.43% at 4,142.