{"id":37203,"date":"2023-08-07T09:35:30","date_gmt":"2023-08-07T09:35:30","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/08\/07\/european-shares-decline-on-weak-german-uk-data\/"},"modified":"2023-08-07T09:35:30","modified_gmt":"2023-08-07T09:35:30","slug":"european-shares-decline-on-weak-german-uk-data","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/08\/07\/european-shares-decline-on-weak-german-uk-data\/","title":{"rendered":"European Shares Decline On Weak German, UK Data"},"content":{"rendered":"
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European stocks fell in cautious trade on Monday as investors exercised caution ahead of China’s trade balance figures and inflation readings from the United States and China due this week. <\/p>\n

Meanwhile, official data showed that Germany’s industrial production declined more than expected in June on weak auto production.<\/p>\n

Industrial production posted a monthly fall of 1.5 percent in June, following a revised 0.1 percent drop in May, Destatis reported while analysts had forecast output to decrease moderately by 0.5 percent.<\/p>\n

On a yearly basis, industrial production slid 1.7 percent in June after staying flat in May.<\/p>\n

British house prices fell for a fourth straight month in July due to rising borrowing costs, data from mortgage lender Halifax showed earlier today.<\/p>\n

The Eurozone Sentix Investor Confidence improved to -18.9 in August from -22.5 in July. Analysts had expected a score of -23.4.<\/p>\n

The pan European STOXX 600 slipped 0.4 percent to 457.60 after closing 0.3 percent higher on Friday. <\/p>\n

The German DAX and France’s CAC 40 both dropped around half a percent, while the U.K.’s FTSE 100 was down 0.7 percent. <\/p>\n

British housebuilders Persimmon and Taylor Wimpey both fell around 1.4 percent, while Barratt Development was down 0.8 percent.<\/p>\n

Declining copper prices weighed on miners, with Anglo American, Antofagasta and Glencore all falling around 2 percent.<\/p>\n

Clarkson declined 1.4 percent after the shipping services provider warned it is seeing softening of rates in some sectors.<\/p>\n

Recruitment specialist Page Group dropped about 1 percent after its total headcount shrank by 5 percent in the first half of the year.<\/p>\n

Student accommodation specialist Unite Group fell more than 2 percent after a rating downgrade.<\/p>\n

LSL Property Services plummeted 11 percent after the provider of mortgage and valuation services issued a profit warning on mortgage market woes.<\/p>\n

German vehicle maker Daimler Truck Holding fell 1.5 percent. The company said that its Chief Financial Officer Jochen Goetz, 52, passed away suddenly and unexpectedly in a tragic incident on August 5th, 2023.<\/p>\n

Aurubis AG, a supplier of non-ferrous metals, plunged 8.5 percent after revenue for the first nine months of fiscal 2023 missed expectations.<\/p>\n

Siemens Energy tumbled nearly 3 percent after posting a wider loss for Q3 and cutting its annual outlook. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n