15.07.2024 19:11:44 - dpa-AFX: European Stocks Close Notably Lower On Growth Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed lower on Monday,
weighed down by some disappointing economic data from China, and none too
encouraging corporate earnings updates.

Investors also assessed the likely impact of the assassination attempt on former
U.S. President Donald Trump on bond and equity markets.

The attempt on Trump's life has injected fresh uncertainty into an already
tumultuous presidential campaign.

Data showing a slower than expected growth of the Chinese economy weighed on
sentiment.

The pan European Stoxx 600 fell 1.02%. The U.K.'s FTSE 100 ended down 0.85%,
Germany's DAX dropped 0.84% and France's CAC 40 lost 1.19%. Switzerland's SMI
closed lower by 0.69%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland,
Netherlands, Norway, Portugal, Russia, Spain and Sweden closed weak.

Greece and Poland bucked the trend and ended higher.

In the UK market, Burberry Group tanked 16.1% after the company said it is
likely to report an operating loss for the first half of this year, and a drop
in full-year operating profit.

Ocado plummeted more than 10% as broker Bernstein downgraded the stock to
'underperform'.

Frasers Group, Antofagasta, Marks & Spencer, Smith & Nephew, SSE, Croda
International, Prudential, Severn Trent, National Grid, DCC, Airtel Africa, ICG,
Intertek Group, United Utilities and Diageo lost 2 to 4%.

Ashtead Group climbed about 2.5%. 3i Group and Barclays gained 1.7% and 1.5%,
respectively. BAE Systems, IHG and Hargreaves Lansdown posted modest gains.

In the German market, Siemens Energy ended nearly 5% down. RWE ended down 3.3%.
BMW, Fresenius Medical Care, BASF, Bayer, Fresenius, Merck, Siemens, Siemens
Healthineers, E.ON, Symrise, Vonovia and Beiersdorf lost 1 to 2.7%.

Rheinmetall and Zalando ended moderately higher.

In the French market, Kering ended more than 5% down. Hermes International,
Eurofins Scientific, LVMH, Sanofi, Pernod Ricard, Essilor, Air Liquide, Safran,
L'Oreal, Edenred, STMicroElectronics, Legrand, Danone and Veolia lost 1 to 2.7%.

In economic news, eurozone industrial production dropped for the first time in
four months in May, though at a slower than expected pace, official data showed.

Industrial output logged a monthly fall of 0.6% after remaining flat in April,
the statistical office Eurostat said. Production was forecast to decline by 1%.

Data from the Federal Statistical Office showed Switzerland's producer and
import prices continued to decline in June, dropping 1.9% year-on-year,
following following a 1.8% drop in the previous month. Prices have been falling
since May 2023.

The producer price index dropped 1.2% annually in June, and import prices
registered a decrease of 3.2%. On a monthly basis, producer and import prices
remained flat in June after falling 0.3% in the previous month. Prices were
expected to increase by 0.1%.



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Copyright RTT News/dpa-AFX
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
CAC 40 969400 Paris 7.514,25 21.08.24 13:29:15 +28,52 +0,38% - - 7.486,91 7.485,73
FTSE 100 969378 Financial Times SE 8.289,85 21.08.24 13:29:28 +16,53 +0,20% - - 8.273,32 -
DAX ® 846900 Xetra 18.449,38 21.08.24 13:29:28 +91,86 +0,50% - - 18.358,79 18.357,52
E-STOXX 50 ® 965814 STOXX Ltd. 4.882,57 21.08.24 13:29:15 +24,99 +0,51% 0,000 - 4.856,23 4.857,58

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