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european stocks

European Stocks Skid; Traders Digest UK Weak Economic Data

On Friday, European stocks fell as market participants digested a slew of disappointing economic data in the United Kingdom. 

The pan-European Stoxx 600 declined 0.32% or 1.53 points to $475.46 per share. 

Accordingly, tech stocks led losses as they tumbled 1.78% or 1.54 points to $84.89 per share.

German Telecommunication company United Internet pared 1.76% or 0.67 points to $37.10 per share. 

Inversely, automobile stocks opposed the downward trend as they increased 0.03% or 0.14 points to $757.95.

Remarkably, car manufacturer Porsche placed at the top of the index as it gained 0.31% or 0.35 points to $95.68 per share. 

Correspondingly, the benchmark EURO STOXX 50 pared 0.43% or 18.19 points to $4,190.11 per share. 

Its worst performer, Daimler, the parent company of Mercedes-Benz, slumped 15.27% or 14.80 points to $82.42 per share. 

Then, multinational utility firm Engie curtailed 1.84% or 0.27 points to $14.58 per share. 

Moreover, German stocks slipped in the European stocks. The MDAX performance index diminished 0.47% or 163.60 points to $34,431.88 per share. 

The DAX 40 index also dropped 0.39% or 61.53 points to $15,577.73 per share. 

In the UK, the FTSE All-Share index decreased 0.18% or 7.69 points to $4,159.70 per share. 

Elsewhere, the benchmark CAC 40 reduced 0.42% or 29.91 points to $6,978.32 per share. 

On the economic data front, UK gross domestic product weakened to 4.60% from the previous rate of 5.30% a year ago. 

In addition, its manufacturing output edged down to 0.00% from the September figure of 0.10%. 

Eventually, British inflation expectations surged to 3.20% from 2.70%, mainly pulling the European stocks. 

Asia-Pacific and European Stocks Dropped

Moreover, renewed concerns about the Omicron coronavirus variant continue to weigh the Asia-Pacific and European stocks. 

In Japan, the Nikkei 225 index plunged 1.00% or 287.70 points to $28,437.77 per share. 

Also, the broader TOPIX index decreased 0.77% or 15.31 points to $1,975.48 per share. 

In mainland China, the benchmark Shanghai Composite fell 0.18% or 6.69 points to $3,666.35. 

It is similar to the Shenzhen Component index as it slashed 0.24% or 36.31 points to $15,111.56 per share. 

Elsewhere, Hong Kong’s Hang Seng index diminished 1.07% or 259.14 points to $23,995.72 per share. 

In Australia, S&P/ASX 200 index dipped 0.42% or 31.00% to $7,353.50 per share. 

Similar to the European stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.78% or 4.97 points to $632.66. 

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