European Shares Under Pressure From Weak Chinese Data

European shares fell Wednesday, September 15th on concerns about a slowdown in the Chinese economy, a decline in travel and leisure stocks, and rising inflation in Britain, and the impact on sentiment in early trade.

By 07:11 GMT, the European STOXX600 index was down by 0.1%.

Asian shares fell after data showed growth in China’s factory and retail sectors slowed in August, after a new outbreak of the Coronavirus and supply disruptions.

The travel and leisure sector was the lowest in Europe, as sector shares fell 1.1%, while gaming stocks were hurt after the shares of the Macau casino operator tumbled, with the government starting public consultations that investors fear could lead to tightening rules in the world’s largest gambling hub.

Shares of Inditex, owner of the Zara brand, rose by about 1% as its sales approached pre-pandemic levels, but Swedish H&M shares fell 3% after increasing its quarterly sales less than expected.

Britain’s FTSE100 index fell, and the middle-income index fell 0.2% after data showed that inflation in Britain rose to its highest level in more than nine years last month.