European stocks decline, pressured by economic slowdown fears

European stocks fell on Thursday, with travel and entertainment stocks leading the losses, as investors became increasingly concerned about an economic slowdown after recent weak data.

The European STOXX 600 index fell 0.3 percent by 0810 GMT, after touching the peak of more than four months yesterday, Wednesday.

Data showed that industrial output in Germany fell unexpectedly in October, a day after data was released showing a decline in industrial orders in the euro zone, showing that the industrial sector is facing challenges.

The German DAX index fell 0.2 percent after rising to its highest level ever on Wednesday.

A rise in euro zone bond yields also put pressure on stocks. Euro zone GDP data for the third quarter is due later on Thursday.

All eyes are on the report on new weekly claims for unemployment benefits in the United States on Thursday after increasing indications of a decline in the labor market.

Games Workshop shares lost 8.9 percent after it issued an update on its business for the half-year, and Lufthansa shares fell 3.9 percent after JP Morgan reduced its recommendation for the stock, which led to a 1 percent decline in the travel and entertainment sector.

But Sanofi Pharmaceuticals shares rose by 1 percent after it said that it has more than ten candidate drugs under development to achieve annual sales exceeding one billion dollars.