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European Shares Decline On Fed Uncertainty, China Concerns
(RTTNews) - European stocks slipped into the red on Thursday amid worries over China's sluggish economic recovery and uncertainty over the Federal Reserve's interest-rate path.
On a light day on the economic front, Eurostat reported that the euro area recorded a trade surplus of 23 billion euros in June, against a deficit of 27.1 billion euros a year ago.
The pan European STOXX 600 was down 0.4 percent at 453.69 after ending marginally lower on Wednesday.
The German DAX, France's CAC 40 and the U.K.'s FTSE 100 were down between 0.2 percent and 0.3 percent.
The dollar hovered around a two-month high after the minutes of the Federal Open Market Committee (FOMC) meeting held on July 25-26 showed that Fed officials remain concerned about upside risks to inflation.
In corporate news, Swiss plumbing supplies maker Geberit plummeted 5 percent after slashing its full-year outlook.
Aegon lost 3.6 percent after the Dutch insurer swung to a net loss for the first half of 2023.
Danish hearing aid manufacturer GN Store Nord plunged 19 percent after it warned of challenging market conditions.
BAE Systems slumped nearly 4 percent in London after the defense firm said it had agreed to buy Ball Corp's aerospace business for about $5.55 billion in cash.
Rank Group advanced 1.6 percent. The gambling group posted a 5.9 percent increase in revenue in its 2022-23 financial year, though increased impairment costs led to a statutory net loss.
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