European stocks fall as China posts slowest growth

21.01.2019 / 11:45

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European stocks traded lower on Monday, after fresh data from China showed its economy grew at its slowest pace since 1990.

The pan-European Stoxx 600 index sank around 0.4 percent as traders kicked off Monday's session, with most sectors and major bourses in the red.

Market players monitored news of slowing growth in the world's second-largest economy. Official data published Monday said China's gross domestic product (GDP) in 2018 grew 6.6 percent from the previous year, in line with analyst expectations but at its most sluggish rate in almost three decades.

Over the weekend, President Donald Trump said a trade deal with China "could very well happen," but denied what he called "false reports" that the U.S. was considering lifting duties on Chinese imports.

German chemicals firm Henkel slumped to the bottom of the Stoxx 600. The stock slipped 6 percent.

On the other end, Air France-KLM rose close to the top of the European index after Davy Research upgraded the stock to "outperform" from "neutral."

Source: CNBC

Trader Georgi Bozhidarov

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European stocks fall as China posts slowest growth

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