PARIS (Reuters) – European stock markets opened in the red on Wednesday after data showed that the slowdown in activity continues in China and Europe.
In Paris, the CAC 40 fell by 0.64% to 7.08.31 points around 07:28 MT. In Frankfurt, the Dax lost 0.31%, against 0.61% for the FTSE in London.
The pan-European FTSEurofirst 300 index dropped 0.61%, the EuroStoxx 50 0.52% and the Stoxx 600 0.55%.
New York index futures point to Wall Street opening in the red, with the Dow Jones declining 0.18%, versus a 0.3% drop for the Standard & Poor’s 500 and 0.53% for the Nasdaq .
In China, services activity grew at its slowest pace in eight months, Caixin data released on Tuesday showed, an indication that demand remains sluggish despite government stimulus efforts.
The final services and composite PMI indicators in the euro zone, also published on Tuesday, also confirmed the contraction in European activity in August.
This data is important for the trajectory of rates in Europe, as the next meeting of the European Central Bank will be held on Thursday, September 14.
In values, Telefonica takes 2.80% after the Saudi group STC acquired a 9.9% stake in the Spanish telecommunications giant for a value of 2.1 billion euros, in order to become its main shareholder.
(Written by Corentin Chapron, edited by Blandine Hénault)
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