European stocks declined at the beginning of trading today and seem to be headed for a weekly decline, as stocks were hit by higher rates and prospects for lower growth.
The Euro Stoxx 600 fell by 0.5 percent. If it does close lower today, it will be the fourth consecutive session that the index has closed down. Shares of major luxury goods companies with strong exposure to China, such as LVMH, Kering and Hermes, fell by 0.6-1.2 percent, as investors digested the prospects of weak economic growth in China.
Source: Qatar News Agency
