Business Standard

Weak China economic data halts winning streak for European stocks

Mining, oil stocks among top decliners

Photo: Bloomberg
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Photo: Bloomberg

Reuters
A 10-day run of gains for European stocks came to a halt on Monday following a surprise slowdown in China's economic indicators, with commodity-linked stocks falling the most.

The pan-European STOXX 600 index fell 0.4% to 473.8, easing from a record level scaled last week.

Oil and mining stocks fell more than 1% each as commodity prices took a hit after Chinese data raised concerns about faltering demand in the world's major consumer of metals and oil.

China's factory output and retail sales growth slowed sharply and missed expectations in July as new COVID-19 outbreaks and floods disrupted business operations.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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