(MENAFN- FxPro) European stocks slid lower on Monday, despite a batch of upbeat corporate earnings reports as a disappointing manufacturing report from China added to concerns over global economic growth.
During European morning trade, the EURO STOXX 50 slid 0.30%, France's CAC 40 fell 0.23%, while Germany's DAX 30 dropped 0.42%.
Sentiment weakened after data earlier showed that China's Caixin manufacturing purchasing managers' index ticked down to 47.8 in July from 48.2 the previous month. Analysts had expected the index to rise to 48.3 this month.
Also Monday, research group Markit said that Spain's final manufacturing PMI fell to 53.6 last month from 54.5 in June, compared to expectations for a reading of 54.3.
Financial stocks were mixed, as French lenders Societe Generale (PARIS:SOGN) and BNP Paribas (PARIS:BNPP) lost 0.10% and 0.59%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) gained 0.17% and 1.59%.
Commerzbank earlier reported that its quarterly net income more than doubled, beating analysts' estimates.
Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) climbed 0.57% and Unicredit (MILAN:CRDI) dropped 0.66% in Italy, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) fell 0.12% and 1.14% respectively.
Elsewhere, Heineken (AMS:HEIN) surged 3.09% after the world's third-largest brewer reported first-half sales that exceeded analysts' projections.
Also in earnings news, Veolia Environnement (PARIS:VIE) declined 0.74% even after Europe's biggest water company said first-half profit almost tripled, thanks to cost-cutting and improved waste treatment.
In London, commodity-heavy FTSE 100 slipped 0.14%, weighed by sharp losses in the mining sector.
Shares in Rio Tinto (LONDON:RIO) and Glencore (LONDON:GLEN) tumbled 1.55% and 1.60% respectively, while Bhp Billiton (LONDON:BLT) and Anglo American (LONDON:AAL) lost 1.52% and 1.65%.
Meanwhile, financial stocks were mixed. Barclays (LONDON:BARC) dropped 0.54% and the Royal Bank of Scotland (LONDON:RBS) plummeted 1.93%, while Lloyds Banking (LONDON:LLOY) gained 0.58% and HSBC Holdings (LONDON:HSBA) rallied 1.38%.
Earlier Monday, HSBC Holdings reported a profit increase and said it plans to sell its Brazilian unit.
On the upside, product testing company Intertek Group (LONDON:ITRK) saw shares soar 8.01% after reporting a 16.1% increase in pretax profit for the first half and saying it expects to meet full-year forecasts.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.13% fall, S&P 500 futures signaled a 0.18% loss, while the Nasdaq 100 futures indicated a 0.29% decline.
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