European shares open lower as miners, energy stocks drag By Reuters

(Reuters) – European shares opened lower on Wednesday, with miners and energy firms leading losses, as investors fretted over demand outlook following lacklustre trade data from China.

The European oil & gas index was down 2.2%, as of 0720 GMT, while miners lost 2.3%.

Both sector indexes led declines in the benchmark index, which dropped 0.9% after notching marginal gains in the previous session.

Data from China showed exports and imports had slowed in August with growth largely missing forecasts as sky-high inflation hindered overseas demand and fresh COVID-19 curbs and heatwaves disrupted output.

European markets have been widely affected by worries of an energy crisis amid soaring prices and the stoppage of Russia’s biggest pipeline to the region.