(MENAFN– ecpulse)
Most European shares retreated on Thursday’s mid-day trading after announcement from Pearson PLC and downbeat manufacturing report from China.
Pearson Plc slipped to its lowest level in more than five years after mentioning it probably spent more on reorganization in 2013 than it had projected.
China flash manufacturing PMI showed an unexpected contraction in January recording 49.6 from a prior expansion of 50.5, raising worries the world’s second biggest economy may face a slowdown in growth.
However, the progress in European manufacturing and services data managed to lower some of the losses.
As of 07:40 EST, STOXX EUROPE 600 slipped 0.17% to record 335.50 points. Technology led the decline with a drop of 1.04%, where the largest losses were recorded by Pearson PLC as its shares plummeted 8.17% to 1192.00 pounds.
The largest gains, on the other hand, were led by Delhaize Group as its equities rose 8.15% to 49.42 euros.
Regarding other major European indices, Germany`s DAX 30 slipped 0.17% to 9703.25 points. France’s CAC 40 index rose 0.04% to 4326.86 points, and FTSE 100 slumped 0.21% to 6812.18 points.
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