Investing.com – European stocks ended lower on Wednesday, with losses in the energy and commodity sectors leading markets lower and after a flurry of mixed U.S. data added to fears over the fragile global economic recovery.
At the close of European trade, the EURO STOXX 50 was down 0.37%; France’s CAC 40 was off 0.47% and Germany's DAX slipped 0.17%.
Earlier in the day, official data showed that industrial production in the U.S. fell more-than-expected in August while the capacity utilization rate fell unexpectedly in August.
Meanwhile, separate data showed that an index of manufacturing conditions in New York State fell more-than-expected in September, while import prices increased more-than-expected in August, rising for a second consecutive month.
Shares in Drax, the operator of Western Europe’s largest coal-fired power plant tumbled 3.79% after both Goldman Sachs and JP Morgan Chase downgraded the stock.
In London, the FTSE 100 ended down 0.22% as copper prices retreated on the London Metal Exchange. Miners Rio Tinto tumbled 1.37% while Xstrata, the world’s largest copper producer fell 0.85%.
Across the Atlantic, U.S. markets moved higher: the Dow Jones Industrial Average was up 0.41%; the S&P 500 index climbed 0.20% and the Nasdaq Composite index gained 0.33%.
Earlier Wednesday, official data showed that consumer price inflation in the euro zone declined in line with expectations in August.
At the close of European trade, the EURO STOXX 50 was down 0.37%; France’s CAC 40 was off 0.47% and Germany's DAX slipped 0.17%.
Earlier in the day, official data showed that industrial production in the U.S. fell more-than-expected in August while the capacity utilization rate fell unexpectedly in August.
Meanwhile, separate data showed that an index of manufacturing conditions in New York State fell more-than-expected in September, while import prices increased more-than-expected in August, rising for a second consecutive month.
Shares in Drax, the operator of Western Europe’s largest coal-fired power plant tumbled 3.79% after both Goldman Sachs and JP Morgan Chase downgraded the stock.
In London, the FTSE 100 ended down 0.22% as copper prices retreated on the London Metal Exchange. Miners Rio Tinto tumbled 1.37% while Xstrata, the world’s largest copper producer fell 0.85%.
Across the Atlantic, U.S. markets moved higher: the Dow Jones Industrial Average was up 0.41%; the S&P 500 index climbed 0.20% and the Nasdaq Composite index gained 0.33%.
Earlier Wednesday, official data showed that consumer price inflation in the euro zone declined in line with expectations in August.