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Sept. 20, 2021, 4:42 a.m. EDT

European stocks slump on China fears

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By Steve Goldstein

European stocks slumped Monday, declining on fears over China’s struggling property sector as well as the Chinese effort to rein in commodity prices.

The continued rout in iron-ore futures sent miners including Anglo American /zigman2/quotes/201381512/delayed UK:AAL +0.63% and Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO +1.57% sharply lower, as worries about the world’s second-largest economy mounted with questions surrounding the ability of property developer China Evergrande /zigman2/quotes/208605330/delayed HK:3333 +4.26% to make two interest payments this week.

“The big question is whether Evergrande’s problems will cause a contagion to other companies/sectors in China and hit growth there,” said Marshall Gittler, head of investment research at BDSwiss Holding.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.67% fell 1.8% to 453.52, as banks including Deutsche Bank /zigman2/quotes/207242873/delayed XE:DBK +0.97% and Societe Generale /zigman2/quotes/206663756/delayed FR:GLE +1.06% also traded sharply lower.

Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.75% skidded 2.2%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.86% slumped 2.4% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.49% slumped 1.5%.

The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.42% dropped more than 3% with markets in Japan, South Korea and China closed for holidays, and U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -0.01% /zigman2/quotes/210219788/delayed NQ00 -0.24% pointed to a downbeat start on Wall Street.

The biggest Stoxx 600 faller was Prudential PLC /zigman2/quotes/200530572/delayed UK:PRU +0.65% , which fell 6% after announcing it will sell up to 131 million shares.

The biggest Stoxx 600 gainer was Deutsche Lufthansa /zigman2/quotes/201210530/delayed XE:LHA -0.74% , which rose 4% after announcing a €2.1 billion stock sale to repay its bailout.

/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,780.00 p
+17.50 +0.63%
Volume: 675,676
Oct. 22, 2021 1:42p
P/E Ratio
7.01
Dividend Yield
6.32%
Market Cap
£34.84 billion
Rev. per Employee
£253,662
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,722.00 p
+73.00 +1.57%
Volume: 672,266
Oct. 22, 2021 1:42p
P/E Ratio
5.57
Dividend Yield
13.26%
Market Cap
£80.70 billion
Rev. per Employee
£732,787
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/zigman2/quotes/208605330/delayed
HK : Hong Kong
$ 2.69
+0.11 +4.26%
Volume: 172.66M
Oct. 22, 2021 4:08p
P/E Ratio
1.88
Dividend Yield
6.77%
Market Cap
$39.09 billion
Rev. per Employee
$4.66M
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/zigman2/quotes/210599654/delayed
XX : STOXX
472.88
+3.17 +0.67%
Volume: 0.00
Oct. 22, 2021 2:42p
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/zigman2/quotes/207242873/delayed
XE : Germany: Xetra
11.69
+0.11 +0.97%
Volume: 3.85M
Oct. 22, 2021 2:42p
P/E Ratio
11.30
Dividend Yield
0.00%
Market Cap
€23.72 billion
Rev. per Employee
€393,992
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/zigman2/quotes/206663756/delayed
FR : France: Euronext Paris
28.65
+0.30 +1.06%
Volume: 774,785
Oct. 22, 2021 2:42p
P/E Ratio
7.91
Dividend Yield
1.92%
Market Cap
€22.30 billion
Rev. per Employee
€237,304
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,589.35
+116.79 +0.75%
Volume: 22,291
Oct. 22, 2021 2:42p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,743.59
+57.42 +0.86%
Volume: 26,447
Oct. 22, 2021 2:42p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,225.77
+35.47 +0.49%
Volume: 178,583
Oct. 22, 2021 1:42p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,126.93
+109.40 +0.42%
Volume: 1.70M
Oct. 22, 2021 4:08p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,541.25
-0.50 -0.01%
Volume: 146,269
Oct. 22, 2021 7:47a
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/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 15,442.00
-36.75 -0.24%
Volume: 76,845
Oct. 22, 2021 7:47a
loading...
/zigman2/quotes/200530572/delayed
UK : U.K.: London
1,460.00 p
+9.50 +0.65%
Volume: 586,110
Oct. 22, 2021 1:40p
P/E Ratio
N/A
Dividend Yield
0.79%
Market Cap
£39.52 billion
Rev. per Employee
£2.34M
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/zigman2/quotes/201210530/delayed
XE : Germany: Xetra
5.49
-0.04 -0.74%
Volume: 7.23M
Oct. 22, 2021 2:42p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€6.56 billion
Rev. per Employee
€123,463
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