European stocks slide to one-week lows after weak China, euro zone data

Sept 5 - European shares fell to one-week lows on Tuesday, with economically sensitive sectors leading the selloff as weak services sector data from China and the euro zone fuelled concerns about slowing global growth.China-exposed sectors such as luxury and construction & materials were among the top drags in Europe as data showed China's services activity expanded at the slowest pace in eight months in August.

HCOB's final Composite Purchasing Managers' Index for the euro zone dropped to 46.7 in August from July's 48.6, a low not seen since November 2020. Meanwhile, an ECB survey showed consumer expectations for euro zone inflation in the coming years edged up, likely adding to worries that the decline in price growth could stall above the bank's target.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sterling drops to 12-week low as business activity contractsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

European stocks rise on China optimism; Novo Nordisk scales new peak(Reuters) - European shares rose on Monday, echoing an upbeat mood in Asia as investors were optimistic that a series of stimulus from China will ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

European Stocks Hold Steady as China Stimulus Lifts MinersEuropean equities held steady as fresh Chinese stimulus measures aimed at supporting the country’s beleaguered property sector boosted miners and travel sectors, though worries over slowing economic growth kept gains in check.
Source: BNNBloomberg - 🏆 83. / 50 Read more »