European stocks lower; sentiment hit by signs of global slowdown

Investing.com - European stock markets weakened Wednesday, with investors fretting over further indications of China's faltering economic recovery ahead of the release of key regional services activity data. At 03:20 ET (07:20 GMT), the DAX index in Germany traded 0.4% lower, the CAC 40 in France fell 0.4%, while the FTSE 100 in the U.K. traded 0.3% lower. Investors are set to concentrate during European hours on the release of the eurozone’s final services and composite PMIs for June, which are expected to confirm a slowing in what has been a consumption-led economic recovery. This follows the release of disappointing manufacturing activity data, with surveys showing factory activity in all four of the region's biggest economies contracted last month. That said, there was some positive economic news earlier Wednesday, with French industrial production rising 1.2% on the month in May, considerably stronger than the fall of 0.2% expected.

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