European shares fall over underwhelming Chinese stimulus, data on tap
Basic resources shares led sectoral losses, falling 1.1% on lower metal prices, as a firmer dollar and disappointment from the lack of fresh supportive measures in top consumer China sparked concerns. In company news, Sandoz slipped 3% after the Swiss generic and biosimilar manufacturer said its finance chief would step down.
![European shares fall over underwhelming Chinese stimulus, data on tap](https://devdiscourse.blob.core.windows.net/imagegallery/27_06_2019_18_00_51_6514463.png)
European shares opened lower on Tuesday, tracking weaker Asian equities, as pledges by China to transform its economy amid stuttering growth failed to impress investors, while markets grew cautious ahead of a string of euro zone and U.S. economic data.
The pan-European STOXX 600 was down 0.2% by 8:10 GMT, after settling just below all-time highs on Monday. Basic resources shares led sectoral losses, falling 1.1% on lower metal prices, as a firmer dollar and disappointment from the lack of fresh supportive measures in top consumer China sparked concerns.
In company news, Sandoz slipped 3% after the Swiss generic and biosimilar manufacturer said its finance chief would step down. France's Thales added 5.4% after reporting an underlying increase in 2023 operating profit and higher sales, buoyed by a rebound in the civil aerospace market.
Later in the day, there is a roll-out of Purchasing Managers' Index readings from the euro zone, Germany, France, and the U.S. for the month of February, along with euro zone producer prices figures for January, that would be on investors' radar for new insights into the rate-cut cycle.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Parimatch Partners with Argentine Football Association for Asian Market Expansion
Germany to Phase Out Huawei, ZTE Components from 5G Network by 2029
Germany says it won't be cowed by Russia after reported plot to kill Rheinmetall CEO
Germany Set to Bolster Military with Major Boxer Armoured Vehicles Purchase
Germany Nears Deal for 100 Boxer Armoured Vehicles for Ukraine