Europe Stocks Slip into Negative Territory, Asia Worries Weigh


European stocks dipped on Monday after staging a sharp recovery late last week, as underwhelming Chinese data and a resurgence of COVID19 cases in some Asian countries outweighed optimism over the reopening of the British economy.

The panEuropean STOXX 600 index slipped 0.1, adding to last weeks marginal losses spurred by a U.S. inflation scare.

Data showed Chinas factories slowed their output growth in April and retail sales significantly missed expectations as officials warned of new problems affecting the economic recovery.

Fresh restrictions across Asia following a new wave of COVID19 cases also dampened the mood despite prospects of improving economic recovery in the United Stated and Europe.

Some mixed activity data from China are a reminder that even that economy is not fully through the pandemics effects, Peel Hunts Ian Williams wrote in a morning note.

UKs domestically focussed midcap index was flat, but hovered near a oneweek high as the British economy reopened, giving 65 million people a measure of freedom after the gloom of a fourmonth COVID19 lockdown.

However, there were concerns about a fastspreading coronavirus variant first identified in India that could knock a full reopening of the economy off track.

Irish airline Ryanair edged higher despite reporting a record annual aftertax loss, as it said there were signs the recovery had begun.

The wider travel and leisure index fell 1.4 as BNP Paribas downgraded French meal card company Sodexo to…

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