Europe Stocks Fall as China Data Reignite Global Growth Concern
- Banks, Commodity producers weigh on Stoxx Europe 600 Index
- SABMiller jumps after agreeing to AB InBev takeover offer
No Surprise for China’s Slumping Imports?
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Banks and commodity producers helped drag European stocks lower as worse-than-expected Chinese import data reignited investor concern about growth prospects in the world’s second-biggest economy.
Banks posted the biggest decline on the Stoxx Europe 600 Index, with HSBC Holdings Plc contributing the most to the drop. UBS Group AG lost 1.1 percent after Switzerland’s finance ministry was said to plan requiring the country’s biggest banks to have capital equal to about 5 percent of total assets. Glencore Plc fell 2.6 percent and Anglo American Plc lost 1.8 percent. SABMiller Plc jumped 9 percent after agreeing to a takeover offer from Anheuser-Busch InBev NV, which added 1.7 percent.