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European stocks fell on Tuesday amid growth concerns after data showed China’s consumption and investment cooled further in July.<\/p>\n
Factory production growth also decelerated, adding to pressure on the economy<\/span> from multiple fronts.<\/p>\n Earlier in the day, China’s central bank unexpectedly cut key policy rates for the second time in three months in its efforts to boost economic recovery.<\/p>\n Investors were also reacting to mixed regional data. <\/p>\n German investor morale improved unexpectedly in August, the ZEW economic research institute said today, with the corresponding index improving to -12.3 in August from -14.7 in July.<\/p>\n Bond yields across Europe jumped after separate data showed the U.K. unemployment rate increased unexpectedly in the second quarter.<\/p>\n The jobless rate rose to 4.2 percent in three months to June, while it was forecast to remain unchanged at 4.0 percent – according to the office for National Statistics.<\/p>\n Wage growth accelerated at the strongest pace on record between April and June – fueling concerns over inflation and further interest-rate rises.<\/p>\n The pan European STOXX 600 was down 0.8 percent at 456.17 after gaining 0.2 percent on Monday. <\/p>\n The German DAX fell 0.8 percent, France’s CAC 40 lost around 1 percent and the U.K.’s FTSE 100 was down 1.2 percent. <\/p>\n In corporate news, British retailer Marks & Spencer jumped 6.5 percent after raising its profit outlook.<\/p>\n Bunzl dropped 1.3 percent after the distribution and service specialist announced several acquisitions in Spain, Brazil, Canada and the Netherlands.<\/p>\n Bookmaker 888 Holdings fell nearly 2 percent after it swung to a pre-tax loss in the first half of the year on higher costs and expenses.<\/p>\n Likewise, life insurer and asset manager Legal & General tumbled 3.7 percent after it reported a 10 percent drop in assets under management in the year to end June.<\/p>\n Pandora rose about 1 percent after the Danish jewelry maker raised its full-year revenue forecast. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n