Euro STOXX 50 and Europe 600 close slightly lower
European stocks finish lower as Euro STOXX 50 slips 0.2% to 6,432 and STOXX Europe 600 edges below flat, with luxury and industrial names among the laggards.
European stocks closed slightly lower on Thursday amid sharp losses for high-end retailers and lingering macroeconomic headwinds.
The Euro STOXX 50 dropped 0.2% to 6,432 and the STOXX Europe 600 inched below the flatline to 651.
Luxury companies led the declines amid pessimistic signs on demand for major consumers.
Recent retail sales released by China, the world's top luxury consumer, rose less than expected in July.
In the US, the outlook on discretionary spending was pressured by a rebound in Treasury yields, a weaker dollar, and increasing inflationary risks.
LVMH and Adidas lost 3%, while Hermes fell 2%.
Meanwhile, Airbus, Safran, and Rheinmetall dropped around 2% to set the pace for industrial giants.
In turn, Intesa Sanpaolo added 0.4% after Banca MPS approved bids for BPM and Banca Generali to fend off the former's takeover attempt.