European stocks fall 1% on growth worries

Europe-focussed Stoxx 600 on course for its biggest daily decline in three weeks

 

European stocks fell on Wednesday as worries about slowing global growth weighed on sentiment, while investors looked ahead to a European Central Bank meeting for hints on tapering plans. The Europe-focussed Stoxx 600 index fell 1 per cent early this morning - on course for its biggest daily decline in three weeks - after losses overnight on Wall Street’s benchmark S&P 500 and Asian stocks.

Swedish investment company EQT fell 5.9 per cent after a share placing deal, while Stellantis dropped 2.5 per cent after Dongfeng Motor Hong Kong said it had sold shares in the carmaker for about €600 million euros ($710 million). French drugmaker Sanofi slipped 1.4 per cen t after it agreed to buy U.S. biopharmaceutical company Kadmon Holdings in a $1.9 billion deal. British industrial technology company Smiths Group rose 3.8 per cent after it agreed to sell its medical unit to US-based ICU Medical for $2.4 billion. - Reuters