European stocks fell with lower factory activity in Asia

European stocks fell at the open on Tuesday, as weak factory activity data in Asia and some disappointing corporate results halted a rally in the markets that pushed several regional indices to multi-year highs.

According to “Reuters”, the European Stoxx 600 index fell 0.1% by 0714 GMT, and the mining and real estate sectors were among the main losers.

Surveys conducted by private companies showed Asian factory activity shrank in July, a sign of the impact of slowing global growth and a weak Chinese economy on the region’s fragile recovery. Later in the day, surveys of factory activity in the eurozone are due

DHL shares fell 3% after the company announced a drop in its quarterly profit, as consumer demand and freight rates were affected by high inflation, the war in Ukraine and the ongoing energy crisis.

In Britain, HSBC shares rose 2.1% after the bank raised its core performance targets, while BP rose 2.2% after the energy giant raised its cash dividends by 10%.