European shares end lower on weak business activity data

European shares hit more than a year lows on Thursday as a slowdown in euro zone business activity raised concerns about growth, while the German index fell 1.8% after the country issued triggered the “alarm stage” of your gas emergency plan.

The STOXX 600 index fell 0.8%, with eurozone banks retreating 4.5%. Eurozone bond yields also fell, as did the euro.

The German DAX tumbled to more than three-month lows as falling Russian supplies sparked the move on Thursday – the latest escalation in a standoff between Europe and Moscow since Russia’s invasion of Ukraine that exposed its dependence on the country. Russian gas supply block.

A survey by S&P Global showed eurozone business growth slowed significantly this month, and much more than expected, as consumers worried about rising bills chose to stay home and delay shopping to save money. .

“There was this expectation that services would still be doing well. PMI has thrown cold water on that belief,” said Andrea Cicione, head of strategy at TS Lombard.

Other economically sensitive sectors, including auto, mining and oil and gas manufacturers, were down between 2% and 3.6%.

The health and public services sectors and some luxury names were the only ones that won this Thursday

• In London, the Financial Times index dropped 0.97%, to 7,020.45 points;
• In Frankfurt, the DAX index fell 1.76% to 12,912.59 points;
• In Paris, the CAC-40 index lost 0.56% to 5,883.33 points;
• In Milan, the Ftse/Mib index had a devaluation of 0.80%, to 21,615.00 points;
• In Madrid, the Ibex-35 index registered a drop of 0.48%, to 8,106.40 points;
• In Lisbon, the PSI20 index remained stable at 5,921.51 points.