French stocks lead Europe's STOXX 600 lower on growth forecast downgrade

Shares of Currys soared 30.6% after Chinese e-commerce group JD.com said it is in the "very preliminary stages" of evaluating a possible offer for the British electricals retailer. Juventus fell 1.3% after the Italian soccer club said its net loss widened in the first half of its 2023-24 fiscal year as its ban from lucrative European competition this season over financial irregularities weighed.

European stocks slipped on Monday, with French stocks taking a hit after the government cut its annual economic growth forecast, while shares of car parts maker Forvia rose following an upbeat outlook and on plans to trim workforce.

The continent-wide STOXX 600 index was down 0.1% by 0812 GMT. France's benchmark index slipped 0.3%, easing from Friday's record high after the government trimmed the economy's 2024 gross domestic product growth forecast to 1% from 1.4%, hurt by the ongoing war in Ukraine and Gaza and a slowdown at top trading partners Germany and China.

Among early movers, Forvia climbed 4.3% after the world's seventh-largest automotive supplier forecast better-than-expected 2024 sales and said it would slash 13% of its European workforce over the next five years. Shares of Currys soared 30.6% after Chinese e-commerce group JD.com said it is in the "very preliminary stages" of evaluating a possible offer for the British electricals retailer.

Juventus fell 1.3% after the Italian soccer club said its net loss widened in the first half of its 2023-24 fiscal year as its ban from lucrative European competition this season over financial irregularities weighed. ($1 = 0.9276 euros)

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