EURO STOXX 50

Delayed Switzerland - 11:50 2022-11-25 am EST
3962.41 PTS +0.01%

European shares open lower as miners, energy stocks drag

09/07/2022 | 03:35am

(Reuters) - European shares opened lower on Wednesday, with miners and energy firms leading losses, as investors fretted over demand outlook following lacklustre trade data from China.

The European oil & gas index was down 2.2%, as of 0720 GMT, while miners lost 2.3%.

Both sector indexes led declines in the benchmark STOXX 600 index, which dropped 0.9% after notching marginal gains in the previous session.

Data from China showed exports and imports had slowed in August with growth largely missing forecasts as sky-high inflation hindered overseas demand and fresh COVID-19 curbs and heatwaves disrupted output.

European markets have been widely affected by worries of an energy crisis amid soaring prices and the stoppage of Russia's biggest natural gas pipeline to the region.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips)

Reuters 2022
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