European shares stumble from six-week highs after Chinese GDP data

  • Reuters
  • Stock Market News
European shares stumble from six-week highs after Chinese GDP data
Credit: © Reuters.

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LONDON, Jan 21 (Reuters) - European shares slipped on Monday from six-week highs after China's fourth-quarter growth figures confirmed a slowdown in the world's second-biggest economy with 2018 its weakest year since 1990.

The pan-European STOXX 600 .STOXX fell 0.3 percent by 0825 GMT, in line with Germany's exporter-heavy DAX .GDAXI , while Britain's FTSE 100 .FTSE eked out a 0.1 percent gain thanks to strong oil stocks.

With U.S. markets closed for Martin Luther King Day, trading was likely to stay thin, but company news kept investors busy.

German chemicals firm Henkel HNKG_p.DE , maker of Persil detergent and Schwarzkopf shampoo, was the biggest STOXX 600 faller, down 5 percent after announcing increased investments in new brands, marketing and digitalisation. in online classifieds firm Scout24 G24n.DE climbed 3.1 percent after it rejected a 4.7 billion euro ($5.4 billion)takeover offer from private equity firms Hellman & Friedman and Blackstone (NYSE: BX ), potentially paving the way for a bidding war.

The world's largest brickmaker, Wienerberger WBSV.VI , edged up 0.4 percent after the firm raised its dividend, saying it would reach the upper end of its 2018 earnings guidance thanks to acquisitions and cost savings. Eat JE.L shares fell 2.3 percent after the online food delivery company announced its CEO Peter Plumb was leaving with immediate effect and issued a trading update. notes moved some stocks: Air France AIRF.PA shares climbed 4 percent after Davy Research upgraded the airline to outperform, while Fraport FRAG.DE gained 2.8 percent after Goldman Sachs (NYSE: GS ) raised it to neutral from sell.

Deutsche Telekom DTEGn.DE fell 2.5 percent after Berenberg cut the stock to a "sell". ($1 = 0.8789 euros)

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