Europe stocks hit by China data, Egypt, Portugal

By Barbara Kollmeyer

MADRID (MarketWatch) — European stocks opened sharply lower on Wednesday, with banks and resource stocks coming under pressure. A growing crisis in Egypt, political turmoil in Portugal and downbeat data from China weighed on sentiment. The Stoxx Europe 600 index XX:SXXP -1.26% fell over 1% to 284.13, with HSBC Holdings PLC UK:HSBA -2.86% HBC -0.32% dropping 1.5%, Sanofi SA FR:SAN -1.60% SNY -1.49% falling 1.5% and Vodafone Group PLC losing 1%. Total SA FR:FP -1.17% TOT -1.39% lost 1%. Portugal’s PSI 20 index tumbled nearly 6% to 5,199.59, with Banco Comercial Portuges SA PT:BCP -11.83% sinking 12% and Banco Espirito Santo SA PT:BES -10.29% down 9%. Shares of Adidas AG DE:ADS -4.12% fell 4% on a downgrade, dragging the German DAX 30 index DX:DAX -1.71% down 1.4% to 7,800.59. The FTSE 100 index UK:UKX -1.66% fell 1% to 6,239.94 and the French CAC 40 index FR:PX1 -1.79% slid 1.3% to 3,693.59.

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