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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 +0.90% and Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO +2.18% 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 +0.71% fell 1.8% to 453.52, as banks including Deutsche Bank /zigman2/quotes/207242873/delayed XE:DBK +0.83% and Societe Generale /zigman2/quotes/206663756/delayed FR:GLE +1.15% also traded sharply lower.

Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.78% skidded 2.2%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.00% slumped 2.4% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.59% 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 +0.06% /zigman2/quotes/210219788/delayed NQ00 -0.33% pointed to a downbeat start on Wall Street.

The biggest Stoxx 600 faller was Prudential PLC /zigman2/quotes/200530572/delayed UK:PRU +0.69% , 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 -1.19% , which rose 4% after announcing a €2.1 billion stock sale to repay its bailout.

/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,787.50 p
+25.00 +0.90%
Volume: 778,212
Oct. 22, 2021 2:55p
P/E Ratio
7.03
Dividend Yield
6.30%
Market Cap
£33.91 billion
Rev. per Employee
£253,662
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,750.50 p
+101.50 +2.18%
Volume: 868,917
Oct. 22, 2021 2:55p
P/E Ratio
5.60
Dividend Yield
13.18%
Market Cap
£77.47 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
$34.19 billion
Rev. per Employee
$4.66M
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/zigman2/quotes/210599654/delayed
XX : STOXX
473.03
+3.32 +0.71%
Volume: 0.00
Oct. 22, 2021 3:55p
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/zigman2/quotes/207242873/delayed
XE : Germany: Xetra
11.67
+0.10 +0.83%
Volume: 4.48M
Oct. 22, 2021 3:55p
P/E Ratio
11.28
Dividend Yield
0.00%
Market Cap
€23.89 billion
Rev. per Employee
€393,992
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/zigman2/quotes/206663756/delayed
FR : France: Euronext Paris
28.67
+0.33 +1.15%
Volume: 950,353
Oct. 22, 2021 3:55p
P/E Ratio
7.92
Dividend Yield
1.92%
Market Cap
€22.09 billion
Rev. per Employee
€237,304
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,593.27
+120.71 +0.78%
Volume: 27,049
Oct. 22, 2021 3:55p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,752.82
+66.65 +1.00%
Volume: 32,667
Oct. 22, 2021 3:55p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,232.87
+42.57 +0.59%
Volume: 231,318
Oct. 22, 2021 2:55p
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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
$ 4,544.50
+2.75 +0.06%
Volume: 313,440
Oct. 22, 2021 9:00a
loading...
/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 15,427.25
-51.50 -0.33%
Volume: 156,953
Oct. 22, 2021 9:00a
loading...
/zigman2/quotes/200530572/delayed
UK : U.K.: London
1,460.50 p
+10.00 +0.69%
Volume: 707,270
Oct. 22, 2021 2:55p
P/E Ratio
N/A
Dividend Yield
0.79%
Market Cap
£39.67 billion
Rev. per Employee
£2.34M
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/zigman2/quotes/201210530/delayed
XE : Germany: Xetra
5.46
-0.07 -1.19%
Volume: 8.31M
Oct. 22, 2021 3:55p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€6.61 billion
Rev. per Employee
€123,463
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