European stocks hit 3-week low on China concerns

miércoles 6 de enero de 2016 13:25 GYT

* Pan-European FTSEurofirst index 300 ends 1.3 pct lower

* All sectors in negative territory, miners hit hard

* Chipmakers knocked by report of Apple production cut

By Alistair Smout and Atul Prakash

LONDON, Jan 6 (Reuters) - European equities slipped to a three-week low on Wednesday, hit by weakness in the commodity sector as concerns over the Chinese economy resurfaced after it allowed the yuan to weaken further and poor services sector data was reported.

The FTSEurofirst 300 index of top European shares closed 1.3 percent lower at 1,392.40 points after falling to 1,382.96, the lowest level since mid-December.

Declines were broad based, with all STOXX 600 sectors trading in negative territory. However, basic resources stocks, including miners, down 3.3 percent, were the biggest sectoral faller.

Shares in Anglo American, BHP Billiton, Glencore and Rio Tinto fell 2.7 to 4.9 percent.

Miners came under pressure after the People's Bank of China set a weaker midpoint for the yuan, prompting concerns that the economy of the world's largest metals consumer could be in worse shape than previously believed.   Continuación...