European Shares Slide On Growth Worries
(RTTNews) - European shares were subdued on Wednesday, as Chinese trade data came in below expectations and investors exercised caution ahead of key central bank meetings next week.
Meanwhile, data showed German industrial output rose less than expected in April. Industrial production in the eurozone's largest economy rose 0.3 percent on the previous month, missing forecasts for a 0.6 percent rise.
Elsewhere, France's foreign trade deficit increased at the start of the second quarter as exports fell amid a rise in imports, data from the customs office revealed.
The trade deficit rose to EUR 9.71 billion in April from EUR 8.39 billion in March while the expected shortfall was EUR 7.7 billion.
The pan European STOXX 600 was down 0.2 percent at 460.65 after gaining 0.4 percent on Tuesday.
The German DAX and France's CAC 40 both dropped around half a percent, while the U.K.'s FTSE 100 was marginally lower.
Zara-owner Inditex jumped 6 percent after Q1 profit beat forecasts.
Healthcare stocks traded mostly lower. Swiss biopharmaceutical company Idorsia fell more than 2 percent and Novo Nordish was down more than 1 percent.
GSK edged up slightly after receiving authorization for its respiratory syncytial virus vaccine Arexvy from the European Commission.
U.K. housebuilders Persimmon, Berkeley Group Holdings and Taylor Wimpey fell 1-2 percent after Halifax reported the first year-on-year decline in U.K. house prices since 2012.
Online fashion group N Brown plunged 7 percent, a day after posting declines in full-year revenue and profit.
Stratec SE gained nearly 2 percent. The company further expanded its presence in the United States by acquiring Natech Plastics.
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