Europe: Stocks under pressure from weak China data

[BENGALURU] European shares slipped on Wednesday as worries about a slowing Chinese economy, declines in travel and leisure stocks and soaring UK inflation dampened sentiment in early trading.

The benchmark Stoxx 600 index fell 0.1 per cent by 7.11am GMT.

Asian stocks tumbled after data showed China's factory and retail sectors faltered in August following fresh coronavirus outbreaks and supply disruptions.

Travel and leisure stocks were the top decliners in Europe, down 1.1 per cent, with gaming companies hit after Macau casino operator stocks plummeted as the government kicked off a public consultation that investors fear will lead to tighter regulations in the world's largest gambling hub.

The owner of fashion brand Zara Inditex rose about 1 per cent as its sales approached pre-pandemic levels, but Sweden's H&M slipped 3 per cent as quarterly sales increased less than expected.

UK's FTSE 100 edged lower and mid-cap stocks fell 0.2 per cent after data showed British inflation hit a more than nine-year high last month.

REUTERS