Investing.com – European stocks were down on Tuesday, as miners moved lower amid fears of decreased demand from China while U.S. futures indices pointed to a lower open on Wall Street.
During European morning trade, the EURO STOXX 50 fell 0.88%; France’s CAC 40 tumbled 1.08% while Germany's DAX fell 0.94%.
Earlier Tuesday, official data showed that that Chinese property prices rose at their slowest pace in six months in July, while imports fell more-than-expected in June sparking fears that growth in the world's third largest economy is slowing.
Shares in Rio Tinto, the world’s third largest mining company, fell 2.7% while shares in BHP Billiton Ltd., the world’s largest mining company lost 2.21%. Meanwhile Xstrata's share price tumbled 2.30%.
The CAC's losses came after shares in French utility provider GDF Suez fell 1.57% after the company announced a merger with U.K. energy company, International Power.
Meanwhile, in Germany, shares in the country's largest insurer Hannover Re shed 2.30% after the company said second-quarter net income fell to EUR 159.6 million, down EUR 49.1 million year-on-year.
In London, the FTSE 100 lost 0.60% after shares of U.K. tour operator TUI Travel plunged 8.02%. The company posted a 9-month net loss of GBP 409 million and revised down full-year expectations, citing airspace closures and uncertainty around the U.K.'s austerity budget.
The outlook for U.S. equity markets, meanwhile, was pessimistic: Dow Jones Industrial Average futures indicated a loss of 0.57%, S&P 500 futures pointed to a drop of 0.57% and Nasdaq 100 futures indicated a decrease of 0.56%.
Earlier in the day, official data showed that Germany's consumer price index rose more-than-expected in July.
During European morning trade, the EURO STOXX 50 fell 0.88%; France’s CAC 40 tumbled 1.08% while Germany's DAX fell 0.94%.
Earlier Tuesday, official data showed that that Chinese property prices rose at their slowest pace in six months in July, while imports fell more-than-expected in June sparking fears that growth in the world's third largest economy is slowing.
Shares in Rio Tinto, the world’s third largest mining company, fell 2.7% while shares in BHP Billiton Ltd., the world’s largest mining company lost 2.21%. Meanwhile Xstrata's share price tumbled 2.30%.
The CAC's losses came after shares in French utility provider GDF Suez fell 1.57% after the company announced a merger with U.K. energy company, International Power.
Meanwhile, in Germany, shares in the country's largest insurer Hannover Re shed 2.30% after the company said second-quarter net income fell to EUR 159.6 million, down EUR 49.1 million year-on-year.
In London, the FTSE 100 lost 0.60% after shares of U.K. tour operator TUI Travel plunged 8.02%. The company posted a 9-month net loss of GBP 409 million and revised down full-year expectations, citing airspace closures and uncertainty around the U.K.'s austerity budget.
The outlook for U.S. equity markets, meanwhile, was pessimistic: Dow Jones Industrial Average futures indicated a loss of 0.57%, S&P 500 futures pointed to a drop of 0.57% and Nasdaq 100 futures indicated a decrease of 0.56%.
Earlier in the day, official data showed that Germany's consumer price index rose more-than-expected in July.