AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.63 Increased By ▲ 0.26 (2.51%)
CNERGY 8.59 Increased By ▲ 0.27 (3.25%)
CPHL 96.00 Increased By ▲ 3.11 (3.35%)
FCCL 47.60 Increased By ▲ 0.87 (1.86%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.00 Increased By ▲ 1.02 (3.78%)
HUBC 139.20 Increased By ▲ 5.19 (3.87%)
HUMNL 12.90 Increased By ▲ 0.38 (3.04%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.57 Increased By ▲ 0.18 (3.34%)
MLCF 63.10 Increased By ▲ 2.22 (3.65%)
OGDC 215.50 Increased By ▲ 6.98 (3.35%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.54 Decreased By ▼ -0.26 (-1.38%)
PIBTL 10.42 Increased By ▲ 0.44 (4.41%)
POWER 12.15 Increased By ▲ 0.19 (1.59%)
PPL 174.23 Increased By ▲ 5.46 (3.24%)
PRL 36.50 Increased By ▲ 1.47 (4.2%)
PTC 23.69 Increased By ▲ 0.70 (3.04%)
SEARL 95.35 Increased By ▲ 2.25 (2.42%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 13.95 Increased By ▲ 0.29 (2.12%)
TELE 7.22 Increased By ▲ 0.27 (3.88%)
TPLP 10.25 Increased By ▲ 0.25 (2.5%)
TRG 63.80 Increased By ▲ 3.13 (5.16%)
WAVESAPP 10.08 Increased By ▲ 0.38 (3.92%)
WTL 1.32 Increased By ▲ 0.02 (1.54%)
YOUW 3.71 Increased By ▲ 0.06 (1.64%)
BR100 12,529 Increased By 289.7 (2.37%)
BR30 37,760 Increased By 1366.8 (3.76%)
KSE100 116,558 Increased By 2404.9 (2.11%)
KSE30 35,906 Increased By 705.7 (2%)

PARIS: European stocks fell on Thursday as mixed economic data spurred worries about global growth and offset gains in interest rate-sensitive sectors, with France’s CAC 40 leading national declines.

The pan-European STOXX 600 index fell 0.5%, with sectors tracking healthcare, chemicals and personal goods all falling over 1%.

Economic worries continued to weigh on sentiment. German industrial orders rose more than expected in July, but euro zone retail sales slipped on an annual basis.

That, combined with some signs of weakening in the US labour market, kept investors cautious ahead of key US nonfarm payrolls data on Friday.

“The industrial orders were good news for Germany but everybody right now is focused on US job data ... tension in the market is growing higher into tomorrow’s US job report which is why we see a continued sell off in the US and European stock markets,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

France’s benchmark index slipped 0.9%, its third consecutive loss, as worries about a slowdown in top consumer China weighed on luxury stocks.

An index of luxury stocks dropped over 3%, with LVMH and Hermes International slumping 3.6% and 6.4%, respectively.

The selection of Michel Barnier, the EU’s former Brexit negotiator, as France’s prime minister helped lift some bank stocks and government bonds in hopes it would soothe the country’s political turmoil since President Emmanuel Macron called a snap election in June.

“Having a Prime Minister is a good sign and it’s going to calm nerves in the market, but this period of (political) uncertainty has damaged investor appetite for France,” Ozkardeskaya said.

Germany’s benchmark DAX index was flat. The country’s Ifo Institute said the economy was likely to stagnate this year, in contrast to previous forecasts of 0.4% growth. The rate-sensitive utility and real estate sectors were the top gainers, both up over 1% as investors continued to expect rate cuts this month from both the European Central Bank and the Federal Reserve.

Comments

Comments are closed.