European stocks took a breather after their first advance in three days, as investors assessed a worsening economic outlook in Germany against renewed hopes of progress in trade talks between the U.S. and China.
The Stoxx Europe 600 Index declined about 0.1% at 371.75 as of 8:14 a.m. in London, as miners fell and telecom shares advanced. The benchmark gauge climbed sharply late in the session on Tuesday after the U.S. delayed imposing tariffs on some Chinese imports. Chinese officials are sticking to their plan for face-to-face trade meetings in Washington in September, people familiar with the matter said.
Germany's DAX dropped 0.2% after a report showing Europe's biggest economy shrank in the second quarter, adding to worsening data. Balfour Beatty Plc jumped after raising its full-year cash outlook and reporting an increase in first-half profit.
While Tuesday's advance brought some respite to traders, European stocks have suffered in August, hit by a cocktail of risks from around the world including trade uncertainty, Brexit, the prospect of Italian elections and unrest in Hong Kong. The Stoxx 600 is heading for its worst monthly decline since May.
Source : Bloomberg