European stocks fall; growth refers to yield By Investing.com

Investing.com – European stocks fell on Wednesday, paring some of the previous session’s China-inspired gains amid concerns over the region’s growth outlook.

At 03:05 ET (0705 GMT), Germany was trading 0.7% lower, France was down 0.7% and Britain was down 0.4%.

Growth concerns return

Major European indexes posted strong gains on Tuesday following Beijing’s announcement of the biggest and broadest stimulus measures to boost the Chinese economy, a major European export market, since the pandemic.

However, investors are now questioning the impact on broader markets given continued concerns about the global growth outlook.

Data released earlier this week indicated a weakening in , while it contracted sharply and unexpectedly this month, raising fears of a recession later in the year.

Germany contracted 0.1% in the second quarter, and a decline in the third would meet the technical definition of a recession – two consecutive quarters of contraction.

It cut key interest rates by 25 basis points earlier this month, following a similar move in June, and the slowdown could raise the stakes for further policy easing in October.

Orange to delist from NYSE

In the corporate sector, Orange (EPA: ) announced its intention to delist its shares from the New York Stock Exchange, with the French telecom operator citing the financial cost of a secondary listing.

Shares in Rightmove ( OTC: ) fell 1.6 percent after the British real estate portal rejected a sweetened $8.1 billion takeover offer from Australian real estate listing firm REA Group, saying the offer undervalued the company.

Back gross earnings

Crude oil prices fell on Wednesday as traders reassessed the likely impact of new monetary stimulus from top importer China.

By 03:05 ET, the contract was down 0.3% at $74.23 a barrel, while WTI futures traded 0.4% lower at $71.25 a barrel. barrel.

Both benchmarks rose just under 2% on Tuesday after China announced its most aggressive economic stimulus since the COVID-19 pandemic.

However, that optimism is fading as traders look for more help to boost the economic outlook for the world’s biggest crude importer.

Falling US crude inventories provided some support to the market as data on Tuesday showed crude inventories fell by 4.34 million barrels last week.

Official numbers from the session will be sent later.