European Shares Mixed Amid China Concerns
2024-10-08
3229
(fxcue news) - European stocks were mixed on Monday after data showed China's exports and imports grew far less than expected in September.
A much-anticipated Chinese stimulus announcement over the weekend also failed to inspire confidence among investors.
The pan European STOXX 600 was marginally higher at 522.06, with investor focus firmly on the earnings season and the European Central Bank's policy meeting due later this week.
The German DAX edged up 0.2 percent, while France's CAC 40 slipped 0.2 percent and the U.K.'s FTSE 100 was marginally lower.
LVMH fell 2.8 percent, Kering tumbled 3.9 percent and Hermes International dropped 1.1 percent in Paris as investors remained jittery over anemic China demand for European designer goods.
Entain slumped 13 percent and Flutter Entertainment lost nearly 8 percent in London, following a report that the Labour government is considering an up to £3 billion tax hit on the gambling sector in this month's Budget.
Mulberry Group shares jumped over 20 percent following a revised possible takeover offer from Frasers Group Plc.
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