
Stocks in Europe Close Lower As a Result Of Increasing Fears About Global Growth

European stocks last week Friday performed below expectations. The stocks closed lower owing to the release of weaker-than-projected data which increased concerns about a slowdown in the economic growth on a global level. Specifically, Stoxx 600 closed down by 0.63% and almost all the sectors, as well as the major bourses, closed in the negative region. The focus of the market is on the possibility that there may likely be economic slowdown over the course of these coming months.

Stoxx 600 closed down by 0.63% and almost all the sectors, as well as the major bourses, closed in the negative region
The performance of the stocks came after China reported its weaker-than-projected retail sales data last Friday. It progressed at the weakest pace ever since 2003 last month and disappointing domestic and industrial demand figures are also affecting the economic outlook of Asia. Also, the European data had below-expectation performance as IHS Markit Flash Eurozone PMI index fell to 51.7 this month, which is the lowest it has been in about 4 years.
Individual Stock Performance
Leading the losing stocks on Friday was auto stocks which traded 1.29% lower. Volkswagen, Fiat Chrysler, and Renault also led the 8.1% decline in the car sales that held in November. The major regional body of the industry made known last week Friday that the imposition of stricter new emission criteria continued to affect demand. Plastic Omnium of France fell close lower to the European benchmark bottom as it fell by 7.04% owing to series of downgrades in its ratings.
The basic resources stocks in Europe even with the extent of their exposure to the Chinese climate fell by 1.16%. The sentiment was affected by the fears surrounding the increasing risks likely to affect the economy of China as it tries to resolve the current dispute between it and the U.S. A glimpse at other individual shares revealed that Scout24 of Germany topped the European benchmark. The stocks of the company rose by 13.57% after its announcement that it was exploring a strategy that might cause its business to go private for over 5 billion euros which is approximately $5.7 billion.

The basic resources stocks in Europe even with the extent of their exposure to the Chinese climate fell by 1.16%.
Index Performances
GVC Holdings of Britain also traded higher on Friday afternoon. Its high performance was after analysts at Citi reportedly referred to a vote in Westminster based on the FOBT stakes as having a considerable positive effect on the stocks. Lawmakers in the U.K. have plans to vote on this issue this coming week. As a result of the news, GVC Holdings shares went up by 9.07%.
Dow Jones Industrial Average at the close of the trading day fell by 400 points. The performance of the index was affected by Johnson & Johnson and Walgreens. The S&P 500 also fell by 1.2% and the index was dragged down by health care and tech sectors. At the close of trading day, Nasdaq composite dropped by 1.1%.

The performance of Dow Jones Industrial Average was affected by Johnson & Johnson and Walgreens.
Happenings On Brexit Front
In Europe, Theresa May, the British Prime Minister went back to Westminster upon the conclusion of a program that had the different EU leaders in attendance. May has reportedly been in search of legal assurances due to the Irish backstop. Her efforts are in a bid to secure a Brexit deal. However, sources have reported that the leaders of the European Union have said that a withdrawal agreement for Brexit has closed for renegotiation.
Also on Friday, May was reported to have insisted that additional talks concerning the Brexit deal were still possible. It will be recalled that she was able to survive a vote of no-confidence at the instance of her political party. Earlier on Thursday, the Central Bank of Europe announced that it had plans to end its bond-buying program. The bank has plans to bring down the bond purchases from a previous 15 billion euros monthly to zero. The bank, however, added it wouldn’t cease reinvestment of cash gotten from maturing bonds for a longer period.
More in Business
-
`
Is Bruce Springsteen a Billionaire? Here’s Why He Rejects the Label
Bruce Springsteen’s billionaire claims have recently gained attention, with Forbes announcing his induction into the billionaire club in July 2024. Forbes...
November 7, 2024 -
`
“Black Panther” Star Letitia Wright Wows in ‘Chic’ Mini-Prada Dress at the Blacklisted Dinner
Letitia Wright stunned fashion lovers once again when she attended The Blacklisted Dinner in October 2024 in London. The prestigious event,...
October 29, 2024 -
`
How Will the Business Ownership Information Report Affect Business Operations?
Recently, a significant change has emerged for businesses in the U.S. The Financial Crimes Enforcement Network (FinCEN) has introduced the Business...
October 23, 2024 -
`
Tajikistan’s ‘Strategic Tourism Investment’ Make It One of the Go-to Destinations For Tourists
Strategic tourism is emerging as a powerful force in Tajikistan, driving economic transformation with remarkable potential. With its dramatic landscapes, rich...
October 18, 2024 -
`
Why a Higher Corporate Tax Rate Will Hurt American Consumers and Businesses
The corporate tax rate is a critical factor in the health of the American economy. It influences everything from job creation...
October 9, 2024 -
`
Music Mogul Selena Gomez’s Best Life Lessons for YOU
Don’t Talk About Yourself – Talk About the People You Love One of Selena Gomez’s life hacks is to shift the...
October 1, 2024 -
`
How Small & Medium-Sized Businesses Can Use AI to Grow Exponentially
Artificial Intelligence (AI) is not just for large enterprises. In fact, AI for SMBs is quickly becoming a game-changer, helping small...
September 25, 2024 -
`
Selena Gomez’s Rare Beauty Company Earns Her Billionaire Status
Selena Gomez’s net worth has skyrocketed thanks to her successful makeup line, Rare Beauty. Now in her 30s, she is not...
September 18, 2024 -
`
How to Audition for a Movie the Right Way
Making your way into the film industry can be intimidating, but understanding the audition process is key to success. But how...
September 13, 2024
You must be logged in to post a comment Login