Europe: Stocks fall 1% on growth worries

[BENGALURU] European stocks fell on Wednesday as worries about slowing global growth weighed on sentiment, while investors looked ahead to a European Central Bank meeting for hints on tapering plans.

The Europe-focussed Stoxx 600 index fell 1 per cent by 7.12am GMT - on course for its biggest daily decline in three weeks - after losses overnight on Wall Street's benchmark S&P 500 and Asian stocks.

Swedish investment company EQT fell 5.9 per cent after a share placing deal, while Stellantis dropped 2.5 per cent after Dongfeng Motor Hong Kong said it had sold shares in the carmaker for about 600 million euros (S$956.3 million).

French drugmaker Sanofi slipped 1.4 per cent after it agreed to buy US biopharmaceutical company Kadmon Holdings in a US$1.9 billion deal.

British industrial technology company Smiths Group rose 3.8 per cent after it agreed to sell its medical unit to US-based ICU Medical for US$2.4 billion.

REUTERS