European stocks under pressure from weak China data

  • 9/15/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) 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 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. Travel & leisure stocks 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. The owner of fashion brand Zara Inditex rose about 1% as its sales approached pre-pandemic levels, but Sweden’s H&M slipped 3% as quarterly sales increased less than expected. UK’s FTSE 100 edged lower and mid-cap stocks fell 0.2% after data showed British inflation hit a more than nine-year high last month. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

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