European stocks under pressure from weak China data

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The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 14, 2021. REUTERS/Staff

Sept 15 (Reuters) – European shares slipped on Wednesday as worries about a slowing Chinese economy, declines in travel and leisure stocks and soaring UK inflation dampened sentiment in early trading.

The benchmark STOXX 600 index (.STOXX) fell 0.1% by 0711 GMT.

Asian stocks tumbled after data showed China’s factory and retail sectors faltered in August following fresh coronavirus outbreaks and supply disruptions. read more

Travel & leisure stocks (.SXTP) were the top decliners in Europe, down 1.1%, with gaming companies hit after Macau casino operator stocks plummeted as the government kicked off a public consultation that investors fear will lead to tighter regulations in the world’s largest gambling hub. read more

The owner of fashion brand Zara Inditex (ITX.MC) rose about 1% as its sales approached pre-pandemic levels, but Sweden’s H&M (HMb.ST) slipped 3% as quarterly sales increased less than expected. read more

UK’s FTSE 100 (.FTSE) edged lower and mid-cap stocks (.FTMC) fell 0.2% after data showed British inflation hit a more than nine-year high last month. read more

Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.

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