https://www.oann.com/european-stocks-under-pressure-from-weak-china-data/?utm_source=rss&utm_medium=rss&utm_campaign=european-stocks-under-pressure-from-weak-china-data

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

September 15, 2021

(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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