European stocks traded lower on Monday after data showed the Chinese economy<\/span> grew just 0.8 percent in the June quarter, down from 2.2 percent in the first three months of 2023.<\/p>\n
Other reports on industrial output, retails sales, fixed asset investment and unemployment proved to be a mixed bag, raising concerns about an uneven economic recovery in the country.<\/p>\n
Elsewhere, data out of U.K. showed the average price of property coming to market fell by \u00a3905 to \u00a3371,907 this month due to rising mortgage costs, property listing platform Rightmove said. <\/p>\n
The pan European STOXX 600 was down 0.4 percent at 458.80 after closing 0.1 percent lower on Friday. <\/p>\n
The German DAX slipped 0.3 percent, France’s CAC 40 fell nearly 1 percent and the U.K.’s FTSE 100 was down 0.2 percent. <\/p>\n
Eurozone bond yields treaded water while the dollar index stabilized after having fallen over 2 percent last week to touch its weakest level since April.<\/p>\n
Miners Anglo American, Antofagasta and Glencore lost 2-3 percent in London on China recovery concerns, while housebuilders Barratt, Persimmon and Taylor Wimpey all were down around half a percent.<\/p>\n
Costain Group shares jumped 5 percent. The engineering and construction company announced that United Utilities Group PLC, a water service provider in U.K., has extended the contract for a further two years from May 2024 to May 2026. Shares of the latter were up 1.2 percent.<\/p>\n
Ladbrokes-owner Entain declined 1.3 percent after it agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million).<\/p>\n
China-related luxury-goods makers such as Kering, Hermes and LVMH fell between 1.5 percent and 3.4 percent in Paris. <\/p>\n
Luxury Swiss retailer Richemont plummeted 9 percent after its sales figures showed a slowdown in U.S. demand.<\/p>\n
Beer company Carlsberg tumbled 3.2 percent after the Russian state took control of its stake in a local brewer. <\/p>\n
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