European Stocks Close Lower after PMI Miss

European shares closed lower on Thursday as investors reacted to worse-than-expected data from the euro zone and disappointing corporate earnings from the mining sector.

The pan-European FTSEurofirst 300 closed around 0.3 percent lower at 1,355 as a purchasing managers’ index (PMI) for the euro zone came in below forecasts. The bloc’s November flash composite number came in at 51.4, below expectations of 52.2.

France’s November figure for manufacturing slipped to a three-month low but the composite figure – which includes the services sector as well – saw a tick higher to 48.4 from October’s reading of 48.2. A figure above 50 marks an expansion in the country so France’s figures still showed that both sectors were in contraction.

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