(MENAFN– ecpulse)
Most European shares retreated on Monday’s mid-day trading on worries global recovery may falter this year on worries from emerging economies.
Currency devaluations in emerging economies, most notably Argentina, and political woes in Turkey and Ukraine have raised concerns about the main engines for future growth.
Data released last week showed an unexpected contraction in the manufacturing sector, thereby threatening of a sluggish growth.
The upbeat German business confidence report, which showed advance for a third straight month in January, failed to the STOXX EUROPE 600 from hitting its lowest level in a month.
Later in the week, eyes will focus on the Fed meeting as it will decided the pace at which the Fed would scale back stimulus.
As of 07:40 EST, STOXX EUROPE 600 slipped 0.55% to record 322.98 points. Telecommunications led the decline with a drop of 2.79%, where the largest losses were recorded by BG Group PLC as its shares plummeted 15.10% to 1065.50 pounds.
The largest gains, on the other hand, were led by Lanxess AG as its equities rose 7.81% to 48.54 euros.
Regarding other major European indices, Germany`s DAX 30 slipped 0.22% to 9371.52 points. France’s CAC 40 index rose 0.03% to 4162.82 points, and FTSE 100 slumped 1.33% to 6575.00 points.
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