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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 -1.06% and Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO -1.35% 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 +8.55% 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 +0.26% fell 1.8% to 453.52, as banks including Deutsche Bank /zigman2/quotes/207242873/delayed XE:DBK +1.71% and Societe Generale /zigman2/quotes/206663756/delayed FR:GLE +4.48% also traded sharply lower.

Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.11% skidded 2.2%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.02% slumped 2.4% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.05% slumped 1.5%.

The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.54% 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 -0.0061% /zigman2/quotes/210219788/delayed NQ00 -0.01% pointed to a downbeat start on Wall Street.

The biggest Stoxx 600 faller was Prudential PLC /zigman2/quotes/200530572/delayed UK:PRU 0.00% , 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 +0.29% , which rose 4% after announcing a €2.1 billion stock sale to repay its bailout.

/zigman2/quotes/201381512/delayed
UK : U.K.: London
3,557.00 p
-38.00 -1.06%
Volume: 1.40M
Jan. 27, 2023 4:35p
P/E Ratio
8.27
Dividend Yield
5.57%
Market Cap
£47.58 billion
Rev. per Employee
£446,346
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
6,291.00 p
-86.00 -1.35%
Volume: 1.51M
Jan. 27, 2023 4:35p
P/E Ratio
7.70
Dividend Yield
8.40%
Market Cap
£106.54 billion
Rev. per Employee
£917,806
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/zigman2/quotes/208605330/delayed
HK : Hong Kong
$ 1.65
+0.13 +8.55%
Volume: 0.00
March 18, 2022 4:08p
P/E Ratio
1.15
Dividend Yield
0.00%
Market Cap
$21.79 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599654/delayed
XX : STOXX
455.17
+1.19 +0.26%
Volume: 0.00
Jan. 27, 2023 11:03p
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/zigman2/quotes/207242873/delayed
XE : Germany: Xetra
12.34
+0.21 +1.71%
Volume: 8.39M
Jan. 27, 2023 6:30p
P/E Ratio
7.04
Dividend Yield
1.62%
Market Cap
€25.48 billion
Rev. per Employee
€412,564
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/zigman2/quotes/206663756/delayed
FR : France: Euronext Paris
26.60
+1.14 +4.48%
Volume: 5.94M
Jan. 27, 2023 5:38p
P/E Ratio
8.98
Dividend Yield
6.20%
Market Cap
€20.64 billion
Rev. per Employee
€252,098
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,150.03
+17.18 +0.11%
Volume: 0.00
Jan. 27, 2023 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
7,097.21
+1.22 +0.02%
Volume: 68,167
Jan. 27, 2023 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,765.15
+4.04 +0.05%
Volume: 568,906
Jan. 27, 2023 4:56p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,688.90
+122.12 +0.54%
Volume: 2.01M
Jan. 27, 2023 4:08p
loading...
/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,084.00
-0.25 -0.0061%
Volume: 1.53M
Jan. 27, 2023 3:59p
loading...
/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 12,221.00
-1.25 -0.01%
Volume: 582,529
Jan. 27, 2023 3:59p
loading...
/zigman2/quotes/200530572/delayed
UK : U.K.: London
1,371.50 p
0.00 0.00%
Volume: 3.69M
Jan. 27, 2023 4:35p
P/E Ratio
24.60
Dividend Yield
1.05%
Market Cap
£37.56 billion
Rev. per Employee
£58,127
loading...
/zigman2/quotes/201210530/delayed
XE : Germany: Xetra
9.76
+0.03 +0.29%
Volume: 3.63M
Jan. 27, 2023 6:30p
P/E Ratio
68.60
Dividend Yield
0.00%
Market Cap
€11.66 billion
Rev. per Employee
€282,325
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