(RTTNews) – European stocks traded lower on Friday to add to recent losses amid concerns over rising tensions between China and the US, slowing global growth and uncertainty over the course of US monetary policy.
On a bright day on the economic front, data showed that German inflation slowed marginally in August, as estimated, but the pace remained strong due to increases in energy and food prices.
According to final data from Destatis, consumer price inflation fell in August from 6.2 percent in July to 6.1 percent in August.
The statistics office confirmed the preliminary estimate published on August 30.
Separate data from France showed that French industrial production rebounded in July, rising 0.8 percent month-on-month, after falling 0.9 percent in June.
The pan-European STOXX 600 fell half a percent to 451.49, extending losses for the eighth consecutive session.
The German DAX and the French CAC 40 both lost about 0.6 percent, while the British FTSE 100 fell half a percent.
Saipem added 1 percent after the Italian energy services group won two new offshore contracts in Ivory Coast and Italy worth a total of about €850 million.
British real estate developer and home builder Berkeley Group Holdings fell about 1 percent despite reaffirming earnings expectations.
Restaurant Group rose more than 5 percent after chairman Ken Hanna announced his decision not to seek re-election for personal reasons at the next AGM in 2024. Computer services provider Computacenter rose 7 percent.
The technology provider from the corporate and public sector reported an ‘extraordinary growth’ in turnover in the first half of the year, mainly driven by the growth in turnover from Technology Sourcing.
Capgemini SE, an IT and consulting company, was trading marginally lower in Paris after it signed an agreement to acquire the Financial Crime Compliance or FCC division of Exiger, a software-as-a-service company.
Casino fell more than 2 percent. Euronext said the debt-ridden French supermarket chain will be excluded from the Paris SBF-120 stock index of large companies.
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