{"id":36459,"date":"2023-07-17T17:18:12","date_gmt":"2023-07-17T17:18:12","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/07\/17\/major-european-markets-close-lower-after-weak-chinese-gdp-data\/"},"modified":"2023-07-17T17:18:12","modified_gmt":"2023-07-17T17:18:12","slug":"major-european-markets-close-lower-after-weak-chinese-gdp-data","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/07\/17\/major-european-markets-close-lower-after-weak-chinese-gdp-data\/","title":{"rendered":"Major European Markets Close Lower After Weak Chinese GDP Data"},"content":{"rendered":"
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The major European markets<\/span> closed lower on Monday, weighed down by growth concerns after data showed the Chinese economy<\/span> grew at a slower than expected pace in the second quarter.<\/p>\n

China’s GDP logged annual growth of 6.3% in the second quarter, faster than the 4.5% expansion in the first quarter, data from the National Bureau of Statistics revealed. However, this was weaker than economists’ forecast of 7.3%.<\/p>\n

Investors also awaited some key economic data and earnings updates from the U.S. and Europe.<\/p>\n

The pan European Stoxx 600 ended 0.63% down. The U.K.’s FTSE 100 closed lower by 0.38%, Germany’s DAX ended down 0.23% and France’s CAC 40 lost 1.12%, while Switzerland’s SMI declined 1.21%.<\/p>\n

Other markets in Europe ended mixed. Austria, Czech Republic, Finland, Greece, Ireland, Netherlands, Norway and Sweden ended weak.<\/p>\n

Belgium, Denmark, Iceland, Poland, Portugal, Russia and Turkiye closed higher, while Spain ended flat.<\/p>\n

In the UK market, Coca-Cola HBC ended lower by 4.2%. Flutter Entertainment drifted down 3.4%. Glencore, Anglo American Plc, Antofagasta, Rio Tinto, Unite Group and Ocado Group lost 2.2 to 2.8%.<\/p>\n

Entain shed about 1.6% after it agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million). <\/p>\n

RS Group, Burberry Group, Fresnillo, Airtel Africa, M&G, Halma, Persimmon, Prudential, AstraZeneca and BT Group ended lower by 1 to 2%.<\/p>\n

Spirax-Sarco Engineering climbed 2.1%. Rentokil Initial, Natwest Group, Compass Group, Pershing Square Holdings and Lloyds Banking Group gained 1 to 1.6%. HSBC Holdings gained about 0.8%.<\/p>\n

In the German market, Vonovia ended more than 2% down. Infineon declined 1.6%, while Sartorius, Symrise, E.ON, HeidelbergCement and Volkswagen lost 0.8 to 1.25%.<\/p>\n

Deutsche Bank climbed about 2.35%. Fresenius Medical Care gained 1.8% and Munich RE ended 1.2% up.<\/p>\n

In Paris, Hermes International and LVMH lost 4.2% and 3.7%, respectively. Kering, L’Oreal, Veolia, WorldLine, Pernod Ricard, Unibail Rodamco, Vivendi and Capgemini ended lower by 1 to 2%.<\/p>\n

In the Swiss market, retailer Richemont plummeted more than 10% after its sales figures showed a slowdown in U.S. demand. <\/p>\n<\/p>\n<\/div>\n