Commoditylinked stocks drop on China slowdown concerns
Brenntag slides on talks to buy U.S. rival
Nov 28 Reuters Europe39;s STOXX 600 index fell on Monday, in line with a rout in global markets on economic jitters due to rare protests in China against stringent COVID19 curbs, while shares of Airbus slid 5.7 on a report the planemaker may delay some jet deliveries.
The panEuropean index closed 0.7 lower, slipping from last week39;s peak which was the highest in more than three months.
Police stopped and searched people at the sites of weekend protests in Shanghai and Beijing, after crowds there and in other Chinese cities demonstrated against stringent COVID19 measures disrupting lives three years into the pandemic.
China posted recordhigh COVID19 infections on Monday, raising worries about the management of the country39;s zeroCOVID policy and its impact on the world39;s secondlargest economy.
A widening of infections could add to supply chain interruptions, with China39;s problems spilling into global markets, Mark Haefele, chief investment officer at UBS Global Wealth Management wrote in a note to clients.
Social discontent related to zeroCOVID adds to execution and implementation risks for the government. We do not expect economic or market headwinds in China to abate significantly over the coming months.
European oil stocks dipped 1.4 as crude prices , fell on worries about the outlook for the world39;s biggest crude importer, while Chinaexposed automakers…