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(FILES) This file photo taken on March 12, 2020 shows the headquarters of the European Central Bank (ECB) in Frankfurt am Main, western Germany.
daniel roland/Agence France-Presse/Getty Images
European stocks on Thursday took a step back, as the world’s two largest economies continue to clash and ahead of the latest decision from the European Central Bank.
Up 5% over the last month, the Stoxx Europe 600 SXXP, -0.75% slipped 0.6%
Losses also were seen for the German DAX DAX, -0.65%, French CAC 40 PX1, -0.84% and U.K. FTSE 100 UKX, -0.69%.
China, where the coronavirus originated, reported a 3.2% rise in gross domestic product in the second quarter, though it also reported a surprise decline in retail sales for June.
Meanwhile U.S.-China tensions continue to flare. The U.S. is weighing a sweeping travel ban on Chinese Communist Party officials, according to the New York Times. China recently imposed travel restrictions on U.S. lawmakers including Senators Ted Cruz and Marco Rubio.
The Shanghai Composite SHCOMP, -4.49% tumbled 4.5%.
The European Central Bank isn’t expected to change interest rates or its quantitative easing program at Thursday’s meeting, so attention will focus on President Christine Lagarde’s press conference, which comes ahead of a European Union leaders meeting to discuss the proposed 750 billion euro recovery fund.
Of stocks on the move, Zalando ZAL, +2.72% climbed as the Berlin online retailer raised its earnings guidance following a strong quarter.
GVC Holdings GVC, -4.90% fell after reporting a 22% decline in second-quarter net gaming revenue and announcing the retirement of its chief executive, Kenneth Alexander.
Heineken HEIA, -2.72% dropped as the brewer reported a 13% drop in volumes during the first half, sending its adjusted profit down by 76%.
Dow futures YM00, -0.61% fell 152 points. On Wednesday, the S&P 500 SPX, +0.90% rose 0.9% while the Nasdaq Composite COMP, +0.59% added 0.6%.
