By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets retreated on
Monday after German industrial production data missed expectations
and spurred worries that Europe's economic engine is losing
steam.
The Stoxx Europe 600 index dropped 0.1% to 347.66, after closing
out last week with the biggest weekly advance since March.
Germany's DAX 30 index fell 0.1% to 10,005.31, while France's
CAC 40 index gave up 0.3% to 4,457.75. The U.K.'s FTSE 100 index
slipped 0.1% to 6,856.88.
The losses came after data showed industrial production in
Germany dropped 1.8% in May, marking the biggest monthly slide
since April 2012. That is well below expectations of a flat rate
for May in a survey of economists by The Wall Street Journal.
The numbers follow a report from Friday that showed German
manufacturing orders fell 1.7% in May, also weaker than
expected.
Among notable movers in Europe, shares of Sky Deutschland AG
dropped 2.6% after Nomura cut the cable-TV company to neutral from
buy, according to Dow Jones Newswires.
PostNL NV surged 16% after the Dutch postal company raised its
full-year guidance following a strong mail performance in the
Netherlands.
Shares of Banco Espirito Santo SA climbed 6.9% after the bank
said on Saturday that shareholders had chosen the current head of
Portugal's debt agency to become its chief financial officer.
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