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European shares retreat, London nervous ahead of GDP data

Published 11/11/2019, 09:30
Updated 11/11/2019, 09:45
© Reuters.  European shares retreat, London nervous ahead of GDP data
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Nov 11 (Reuters) - European shares slipped on Monday as

fresh round of protests in Hong Kong, worrying data from China

and Moody's warning on Britain's sovereign debt made for a

gloomy start to the week.

The pan-European STOXX 600 index .STOXX fell 0.2% by 0817

GMT, with London's FTSE 100 .FTSE leading declines among the

major regional indices with a 0.6% fall.

Ratings firm Moody's warned on Friday it might cut its

rating on Britain's sovereign debt again, saying that neither of

the main political parties in next month's election was likely

to tackle high borrowing levels which Brexit had made even

harder to fix. Investors awaited a batch of UK data including third-quarter

gross domestic product (GDP) as well as industrial output

numbers for September.

Trade-sensitive German shares .GDAXI slid 0.3% after data

from China's biggest auto industry association showed auto sales

fell 4% in October from a year earlier. Europe's auto index .SXAP fell 0.5%.

Top gainer on the STOXX 600 was British baker and takeaway

food group Greggs GRG.L , which jumped 10.6% after forecasting

a 2019 pretax profit ahead of previous expectations.

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