European stocks close lower after euro zone PMIs disappoint; Adyen down 3.7%
European stocks closed lower Friday as investors focused on disappointing economic data out of the euro zone and geopolitical tensions.
The pan-European Stoxx 600 finished the session marginally lower by 0.15%, as most sectors and major bourses sank despite starting the session in positive territory.
Euro zone flash PMI (purchasing managers’ index) data published on Friday dented hopes of a V-shaped recovery from the bloc’s deepest economic downturn on record. The August composite reading, widely seen as a strong gauge of economic health, fell to 51.6 from July’s 54.9, considerably below analyst expectations.
At the other end of the European blue chip index, Dutch payment company Adyen dropped 3.7% after several top executives sold their 15% stakes.
Reference: CNBC
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