BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed lower on Thursday amid persisting concerns about the outlook for growth after the latest batch of U.S. data showed the private sector employment in the world's largest economy increased by much less than expected in the month of August.
Investors also digested a slew of regional economic data.
The pan European Stoxx 600 ended down 0.54%. The U.K.'s FTSE 100 closed lower by 0.34%, France's CAC 40 settled lower by 0.92% and Germany's DAX edged down 0.08%, while Switzerland's SMI finished 1.19% down.
Among other markets in Europe, Denmark, Finland, Netherlands, Norway, Poland, Sweden and Turkiye closed lower.
Austria, Belgium, Greece, Iceland, Russia and Spain ended higher, while Portugal closed flat.
In the UK market, Associated British Foods tumbled 8.4%. Admiral Group and Astrazeneca both ended lower by nearly 4%. Smith (DS), Spirax Group, M&G, Halma, Croda International, Relx, IMI, Aviva, GSK, RightMove, Melrose Industries, Experian, B&M European Value Retail and F&C Investment Trust lost 1 to 3.2%.
Vistry Group climbed 8.5%. WPP and Entain rallied 5.6% and 5.1%, respectively. Whitbread gained 3.75%. SSE, Severn Trent, United Utilities, Burberry Group, Barclays, Land Securities, Berkeley Group Holdings, Barratt Developments, Endeavour Mining, Vodafone Group, Standard Chartered, National Grid, Taylor Wimpey, BT Group and Smith & Nephew gained 1.5 to 3%.
In the German market, Brennta ended more than 2% down. Symrise, Merck, Rheinmetall, Adidas, SAP and Hannover Rueck lost 1 to 1.7%.
Bayer rallied nearly 4%. Deutsche Bank gained about 3.3%. RWE, Sartorius, Vonovia, Fresenius Medical Care, Continental, E.ON, Commerzbank, Covestro and Allianz advanced 1 to 2%.
In the French market, Hermes International tumbled more than 6%. Dassault Systemes, LVMH, Air Liquide, Essilor and Schneider Electric lost 2 to 4.1%.
Legrand, Stellantis, Kering, Airbus Group, STMicroElectronics and L'Oreal also ended notably lower.
Unibail Rodamco, BNP Paribas, Societe Generale, Eurofins Scientific, Bouygues, Vinci, Edenred, Teleperformance and Engie gained 1.5 to 3%.
Credit Agricole, Orange, Veolia, Vivendi, Renault, Accor and ArcelorMittal also ended notably higher.
On the economic front, Eurozone retail sales grew only marginally in July, rising 0.1% in the month, reversing a 0.4% fall in June, data published by Eurostat showed. The decline reflects a 1% drop in automotive fuel sales. Food, drinks and tobacco sales rebounded 0.4%.
Germany's factory orders grew unexpectedly in July, advancing by 2.9% on a monthly basis, following June's revised 4.6% expansion, official data from Destatis revealed. Orders were forecast to fall 1.6%.
Germany's construction sector contracted further in August due to the steep drop in housing and commercial projects, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index posted 38.9 in August, down from July's 11-month high of 40.0. This was the lowest score since May.
The UK construction sector posted another strong growth in August as lower borrowing cost and gradual improvement in market conditions boosted residential work, survey results from S&P Global showed. The construction Purchasing Managers' Index fell to 53.6 in August from July's 26-month high of 55.3. The reading was expected to drop moderately to 54.6.
New car registrations in the U.K. dropped by 1.3% annually to reach 84,575 units in August, compared to 85,657 units a year ago. August is traditionally one of the quietest months of the year for new car sales, with many buyers preferring to wait until September's new number plate, the SMMT said.
Switzerland's unemployment rate increased slightly in August after remaining stable in the previous three months. The unadjusted unemployment rate came in at 2.4% in August, up from 2.3% in July.
In U.S. economic news, payroll processor ADP released a report showing private sector employment in the U.S. increased by much less than expected in the month of August.
ADP said private sector employment rose by 99,000 jobs in August after climbing by a downwardly revised 111,000 jobs in July.
Economists had expected private sector employment to jump by 145,000 jobs compared to the addition of 122,000 jobs originally reported for the previous month.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
