(Reuters) – European stocks slipped to open on Friday amid lingering concerns over struggling property developer China Evergrande, mining and retail stocks exposed to the Asian country among the steepest declines.
The regional STOXX 600 index slipped 0.5% after a series of three-day gains. Miners, automakers and retailers fell more than 1% each.
Investors took profits after the midweek rally as the deadline to pay $ 83.5 million in bond interest was passed without any remarks from Evergrande, concerns that rocked financial markets earlier this week.
German sportswear manufacturers Adidas and Puma fell 3.7% and 2.5%, respectively, after Nike cut its sales forecast for fiscal 2022 and said it expected delays during the holiday shopping season, blaming the ongoing supply chain tightening.
Globally, the German DAX fell 0.7%, ahead of the weekend when the country votes to elect German Chancellor Angela Merkel’s successor.
UK drugmaker AstraZeneca jumped 3.2% after the company said its cancer drug Lynparza met its primary target in an advanced stage trial.
Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur