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European stocks add to losses on growth worries By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany on September 29, 2021. REUTERS/Staff

(Reuters) – European stock markets struggled Monday following their worst week since February. They were held back by a rising number of risks, including inflation signs and China Evergrande’s financial problems.

Pan-European Index fell 0.2% at 0718 GMT. This is close to the 2-month low reached last week in selloff.

On fears of global slowdown, banks, automakers, and luxury stocks fell the most. This is because the second-largest economy in the world has just introduced COVID-19 regulations, as well as a slowdown for the property sector and other regulatory restrictions.

French Luxury Stocks Kering (PA:), and LVMH both saw a decline of 1.9% and 1.5%, respectively, as they draw a large portion of their revenues from China.

Morrisons fell 3.8% after U.S. private equity firm Clayton, Dubilier & Rice (CD&R) won the auction for Britain’s supermarket group with a 7 billion pound ($9.5 billion) bid.

Rivals Tesco and Sainsbury climbed.

The UK’s telecoms giant BT Group (LON. ) and Nordea Bank were both the biggest losers of STOXX 600. They fell more than 6%.

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