Economic news

European shares slip after fresh manufacturing and services data

European stocks fell on Wednesday, dragged down by an extended increase in bond yields, though strong results from telecom companies, bank Lloyds and miner Glencore offset the losses.

Photo: Reuters

The Stoxx Europe 600 index slumped 0.8% to 377.60.

Frankfurt’s DAX 30 index dropped 0.7% to 12,401.35, and Spain’s IBEX 35 IBEX tumbled 1% to 9,799.40.

France’s CAC 40 lost 0.6% to 5,256.65, and Britains’s FTSE 100 sank 0.3% to 7,223.53.

IHS Markit’s composite flash PMI for the euro zone slumped to 57.5 from January’s final reading of 58.8. UK unemployment increased from 4.3% to 4.4% for the three months to the end of December.

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