Market trades after the Wall Street sell-off; UK closed

LONDON — European markets started May on a weak footing as investors digested new economic data and a sudden drop in the Swedish stock market.

Meanwhile, German retail sales released on Monday morning showed an unexpected drop in March. The Federal Statistical Office said sales were down 0.1% for the month in real terms.

Global investors continue to monitor the war in Ukraine and its geopolitical implications. European leaders are expected to work this week on a Russian oil embargo. Over the weekend, the United Nations and the International Committee of the Red Cross began evacuating civilians from the besieged port city of Mariupol. This operation should continue on Monday.

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Stocks on Wall Street edged higher on Monday morning after the Nasdaq Composite Index posted its worst month since 2008, under pressure from rising rates, runaway inflation and disappointing earnings from some of the biggest companies. technologies.

Shares in Asia-Pacific fell on Monday, as data released over the weekend showed Chinese factory activity contracted in April.

Back in Europe, shares of wind turbine company Vestas fell 7.8% after it cut its forecast. Airbus shares fell 1.8% despite a large order from airline Qantas for its London-Sydney route.

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