European stocks open lower on weak Chinese data

European stocks fell today continuing to fall, on investors' risk aversion, after the release of weak Chinese data which have renewed the global slowdown concerns, in addition to European data during the second quarter which indicate the slowdown of the European economy.

As of 10:50 GMT, Stoxx Europe 600 shed 1.2%, as it closed yesterday higher by 0.5%, its first daily gain in the last 3 days, after the US announced the delaying of the tariffs increase decision on several Chinese products .

The index fell today, to continue its losses, which were temporarily halted yesterday, as most of Europe's markets and sectors fell.

The auto industry is the biggest lose in Europe today, falling by 2%, on the weak Chinese data.

China released its reading for the industrial production y/y reading, which rose by 4.8% vs. 6.3%, the slowest pace in more than 17 years, in addition to a slowdown in retail sales in the same period

While the European GDP grew by 0.2% in Q2, in line with forecasts, vs. a growth by 0.4% in Q1.

The German GDP shrank by 0.1% in Q2, vs growth by 0.4% in Q1, which has raised worries over the largest European economy slowing down.

Standard & Poor's 500 futures fell by 0.9%, while it closed yesterday higher by 1.5%, its first daily gain in the last three days, as the US-China trade war concerns eased.

Euro Stoxx 50 fell by more than 1.3%, with France's CAC 40 shedding 1.3%, and in Germany DAX shed 1.4% and in London the FTSE 100 dropped 0.9%.