European markets close marginally lower as investors track China property woes, earnings
European stocks retreated slightly on Thursday as concerns about the Chinese property sector returned to the fore, while investors also monitored a slew of corporate earnings.
The pan-European Stoxx 600 closed just below the flatline, with miners shedding 3% to lead losses on the back of the Chinese property worries.
The weak trade in Europe comes after markets were jittery in Asia-Pacific overnight, as investors monitored shares of developer China Evergrande Group in Hong Kong.
Evergrande shares dropped more than 12% on Thursday, returning to trade after a halt that lasted more than two weeks. The debt-laden firm announced in an exchange filing late Wednesday that a deal to sell a 50.1% stake in its property services business to another developer Hopson had fallen through.
Reference: CNBC
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