Saturday, 13 August 2016

Stocks decline after US retail sales as miners slide

European stocks fell after retail data in the US missed economist forecasts, triggering concerns about the strength of the economy.

Commodity producers and automakers dragged the Stoxx Europe 600 Index down 0.2 per cent at the close, after it traded little changed for most of the day.

Sales at US retailers stalled in July, while economists expected a 0.4 per cent increase. The equity index, which erased its post-Brexit slump on Thursday, trimmed its weekly gain to 1.4 per cent, with the volume of shares changing hands today about 39 per cent lower than the 30-day average.

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