Sep 7 (Reuters) – European stocks opened lower on Wednesday, with miners and energy companies leading the losses, as investors worried about the outlook for demand following lackluster trade data from China.
The European oil and gas index (.SXEP) was down 2.2%, at 0720 GMT, while miners (.SXPP) lost 2.3%.
Both sector indices led declines in the benchmark STOXX 600 (.STOXX) index, which fell 0.9% after posting marginal gains in the previous session.
Data out of China showed exports and imports slowed in August as growth largely missed expectations as soaring inflation hampered foreign demand and fresh COVID-19 curbs and heatwaves disrupted the production. Read more
European markets were largely hit by fears of an energy crisis amid soaring prices and the shutdown of Russia’s largest gas pipeline to the region.
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Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips
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