August 14, 2019 / 7:32 AM / 6 days ago

European shares dip as global growth worries persist

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Aug 14 (Reuters) - European shares were slightly lower on Wednesday, as a weak growth outlook from Germany and China stoked fears of a global slowdown, overshadowing a temporary U.S.-China tariff truce.

The pan-European STOXX 600 index fell 0.2% by 0710 GMT, with all major indices in the red.

U.S. President Donald Trump’s administration delayed imposing a 10% tariff on certain Chinese products, including laptops and cell phones, beyond September on Tuesday, providing battered equity markets world-wide some relief.

However, weak industrial data from China and a contraction for export-reliant German economy - Europe’s largest - in the second-quarter was a reminder that the impact of the drawn out trade war between the United States and China is far from over.

In corporate news, shares of Swiss elevator and escalator manufacturer Schindler fell 4.3% after it reported a 22% dive in second-quarter profit, dented by wage inflation, higher material costs, foreign exchange, and planned higher costs. (Reporting by Agamoni Ghosh in Bengaluru; Editing by Bernard Orr)

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