European stocks fall ahead of economic data

European stocks fall ahead of economic data

European equity markets fell in early trading on Wednesday ahead of key business growth data, as broader markets weighed the possible fallout from a visit by the Speaker of the House of Representatives. United States, Nancy Pelosi, to Taiwan.

The STOXX 600 index was down 0.2% at 7:10 GMT.

Investors are awaiting crucial data on business and services growth in the euro zone to gauge the continent’s economic health amid fears of a recession.

Luxury carmaker BMW fell 5.5% after warning of a volatile second half.

Strong earnings reports from other companies limited losses in morning trading.

Infineon, the leading supplier of microchips to the auto industry, rose 3.1% after raising its full-year outlook and posting a 33% year-on-year rise in quarterly revenue.

Britain’s competition regulator said it had provisionally authorized the $8.6 billion purchase of cybersecurity firm NortonLifeLock from rival Avast. Avast shares, listed in London, rose 42.4%.

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