Thursday, June 21, 2012

European Stocks Slip

European stocks were weaker Thursday, following soft Chinese and German manufacturing data, and amid some disappointment that the Federal Reserve didn't announce any aggressive stimulus measures.

The benchmark Stoxx 600 Index was recently 0.5% lower at 248.30. The U.K.'s FTSE 100 Index fell 0.6%, Germany's DAX was down 0.7% and France's CAC-40 fell 0.6%.

Basic resources, for which demand is heavily dependent on China, suffered the heaviest losses. The Stoxx Europe 600 Index for the sector slid 2.2% after a weak reading from the preliminary HSBC China Manufacturing Purchasing Managers Index. The index fell to 48.1 in June compared with a final reading of 48.4 in May, prompting concerns about a slowdown. Read More