The European stock market closed flat today, covered with weak Chinese data and warning about the spread of a mutated strain of Covid 19 on optimism about the reopening of the British economy.
The STOXX 600 index ended the trading session down 0.05%, and the travel and entertainment companies came on top of the losers, with its index falling 2.3%, while the telecom companies led the gaining sectors.
Sentiment was hit by data showing that China’s factory production growth slowed in April, while retail sales increased less than expected, with officials warning that new problems were affecting the economic recovery.
On the other hand, new restrictions across Asia in the wake of a new wave of Covid-19 infections, and concerns about the rapid spread of a mutated strain of Corona virus in India, overshadowed an atmosphere of optimism about the reopening of the UK economy.
European stocks have performed well since the start of the year and jumped to an all-time high this month. The STOXX 600 index has risen about 11% so far this year, with the support of stock purchases fueled by prospects for economic recovery and strong corporate profits.
Follow the economic statement via Google News