© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 12, 2023. REUTERS/Staff
(Reuters) – European shares were on track to snap a six-session winning streak on Thursday, after lacklustre U.S. economic data rekindled fears of a global economic slowdown while downbeat corporate earnings at home soured investor appetite further.
The pan-European was down 0.6% at 0815 GMT. In the previous session, the benchmark index marked its longest winning streak since November 2021.
Energy stocks and industrials were the biggest drags amid a broad-based market decline.
Wall Street tumbled overnight after data showed that U.S. manufacturing output had slumped last month and retail sales dropped by the most in a year, while hawkish comments from Federal Reserve officials further weighed on the markets. [.N]
Among individual stocks, Renault (EPA:) slipped 2% as 2022 group sales fell for a fourth consecutive year after capacity constraints and supply chain snags impacted the French carmaker.
Boohoo fell 5% as the British online fashion retailer’s revenue fell 11% in its key Christmas trading period, hurt by delivery disruption and tough comparatives.
Shares of Dr Martens Plc slumped 22% after the British bootmaker warned on annual profit and revenue due to operational issues.
Be the first to comment