European Stocks Closes Lower to ends Record-Breaking Rally

European stocks finished lower on Monday, opening the week with a negative performance that ends a 10-session record-breaking tally, the longest in about 14 years.

Weaker than expected economic indicators in China are weighing on investors’ sentiment and risk appetite, with continuous concerns over the resurgence of the coronavirus with the fast spread of the Delta variant.

The STOXX Europe 600 index lost 2.38 points, or 0.5%, to close at 473.45 points, or its fourth-highest closing level of all-time, after the recent multiple new records registered last week.

Over the past 10 sessions, the pan-European index added about 3%, but it remains higher year-to-date by about 18.65% and by 2.54% since the beginning of August.

The German DAX finished lower by 0.32%, giving up another record high, while the French CAC 40 finished lower by 0.8%, and the UK’s FTSE100 also declined by 0.9%.