Europe markets open lower as investors monitor economic data, geopolitical concerns

  • The pan-European Stoxx 600 traded down around 0.5% shortly after the opening bell, with all sectors and major bourses in negative territory.
  • European stocks closed out a tenth consecutive positive trading session on Friday, shortly after MSCI's aggregate gauge of global stock markets hit a new record high.
  • Market participants on Monday closely monitored the potential geopolitical implications of the sudden collapse of the Afghanistan government.

LONDON — European stocks opened lower on Monday, tracking Asian markets as investors react to weaker-than-anticipated economic data and closely monitor geopolitical concerns.

The pan-European Stoxx 600 traded down around 0.5% shortly after the opening bell, with all sectors and major bourses in negative territory.

European stocks closed out a tenth consecutive positive trading session on Friday, shortly after MSCI's aggregate gauge of global stock markets hit a new record high.

Stocks on Wall Street also notched record highs last week even as concerns over the highly transmissible delta Covid variant persisted.

Shares in Asia-Pacific dipped on Monay as data showed China recorded a surprisingly sharp slowdown last month. Figures on July retail sales, industrial production and fixed asset investment all missed forecasts.

China's National Bureau of Statistics cited the impact of a range of factors, including growing external uncertainties, the ongoing Covid-19 epidemic and flooding. The bureau added that the "economic recovery is still unstable and uneven."

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Meanwhile, market participants closely monitored the potential geopolitical implications of the sudden collapse of the Afghanistan government. Taliban insurgents over the weekend pushed their frontlines into the capital city of Kabul after a succession of shocking battlefield reversals, spurred by the exodus of U.S. and coalition forces.

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