Economic news

European stocks slide as uncertainty persists

European stocks slipped in early trading on Wednesday as traders digested cautious global growth outlook which has prompted U.S. and Asian stocks to close flat in the previous session.

Photo: Reuters

The pan-European Stoxx 600 slid less than 0.1 percent to 372.89 at the open.

Frankfurt's DAX index was 0.1 percent lower at 11,974.90 and paris CAC 40 hovered at 5,317.25. Britain's FTSE 100 was down 0.1 percent at 7,230.13.

Shares of France’s LVMH slumped 4.2 percent even as its sales increased 10 percent on an organic basis in the third quarter.

Worries over a falling demand for branded goods among Chinese ultimate consumers have hurt luxury sector in recent sessions, as a trade row between China and U.S. prevails.

Italian banking sector lost 0.3 percent after Reuters reported that European banking supervisors were activating their control on liquidity levels after the surge in sovereign debt yields.


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