European Stocks Fall as China Tax Risks Weigh on Luxury Shares
(Bloomberg) -- European stocks retreated after their best weekly gain since March, with luxury goods shares under pressure after China signaled plans for property tax legislation and economic data disappointed. The Stoxx Europe 600 slid 0.5% by the close in London as luxury stocks like LVMH and Kering SA echoed their drop in August, which was driven by nervousness over China’s intent to reduce its wealth disparity. The mood was also subdued by data showing economic growth slowed in the country, fueling fears about further setbacks in the recovery. All European equity sectors traded lower, wi...
Source: swissinfo.ch