PARIS (dpa-AFX) - The European stock markets could not sustain early support on Thursday, quickly slipping into the red with the losses accelerating as the day progressed.
The negative sentiment came as stimulus talks sputtered in Washington and an atmosphere of uncertainty swirls around Congress as negotiations for the next stimulus package have stalled.
Investors also look ahead to the latest weekly U.S. jobless claims numbers for clues to economic recovery.
Germany's DAX shed 64.92 points or 0.50 percent to 12,993.71, while London's FTSE tumbled 94.50 points or 1.50 percent to 6,185.62 and the CAC 40 in France lost 30.93 points or 0.61 percent to 5,042.38.
In Germany, thyssenkruppe plummeted 16.31 percent, while Wirecard plunged 10.56 percent, Deutsche Bank tumbled 2.26 percent, Volkswagen skidded 1.36 percent, Deutsche Telekom climbed 1.32 percent, Deutsche Lufthansa and Heidelberg Cement both dropped 1.21 percent and Deutsche Post lost 0.42 percent.
In London, Royal Dutch Shell tanked 3.73 percent, while British American Tobacco sank 1.75 percent, Standard Life Aberdeen retreated 1.63 percent, Rolls-Royce Holdings shed 1.36 percent, Tesco lost 0.87 percent, Scottish Mortgage Investment added 0.67 percent, Vodafone gained 0.37 percent and BAE Systems slid 0.34 percent.
In France, BNP Paribas plunged 2.21 percent, while Credit Agricole tumbled 2.00 percent, Peugeot declined 1.54 percent, Carrefour surrendered 1.21 percent, Societe Generale lost 0.80 percent, Danone added 0.43 percent and Veolia Environment rose 0.15 percent.
In economic news, German consumer prices fell in July due to the reduction in the value added tax, data from Destatis revealed on Thursday. The consumer price index fell 0.1 percent in July after a 0.9 percent rise in June. On a monthly basis, consumer prices fell 0.5 percent July.
The French employment rate declined drastically in the second quarter to the lowest since early 2017 as the lockdown to contain the spread of the coronavirus dampened job creation, the statistical office Insee said Thursday. The employment rate fell 1.6 points to 64.4 percent in the second quarter, the lowest since 2017.
The UK housing market recovery gained further momentum in July as the stamp duty holiday helped to boost demand, survey data from the Royal Institution of Chartered Surveyors (RICS) showed Thursday. A net balance of 75 percent of survey participants reported an increase in buyer enquiries in July.
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