LONDON — Europe’s stock markets ended a week of losses in negative territory Friday morning.
The FTSE 100 in London fell 0.6 percent to 6,331.44, while the CAC 40 in Paris dipped 0.5 percent to 4,760.58. The DAX in Frankfurt was down 0.3 percent to 10,401.67 and the FTSE MIB in Milan was flat at 22,375.40.
The falls came after more downbeat data from China, at a time when investors are already concerned about slower growth in the region. According to the Caixin Flash China General Manufacturing Purchasing Managers’ Index for July, released Friday, the country’s manufacturing PMI stood at 47.1 in August, a 77-month low. Meanwhile, the country’s general manufacturing output index registered 46.6 in August, a 45-month low.
He Fan, chief economist at Caixin Insight Group, said that the figures indicate “[China’s] economy is still in the process of bottoming out.” But, he added, “the likelihood of a systemic risk remains under control and the structure of the economy is still improving.”
On the back of the poor data, the Shanghai Stock Exchange Composite Index fell 4.3 percent to 3,507.74; Hong Kong’s Hang Seng Index was down 1.5 percent to 22,409.62, and the Nikkei 225 in Japan lost 3 percent to 19,435.83.
Fashion, luxury and retail stocks were more varied.
At 11:28 a.m. CET, the pound traded for $1.57, while the euro changed hands for $1.12.