Modupe Gbadeyanka
By Investors Hub
European stocks are extending losses from the previous session as a surging euro and weak commodity prices on concerns over slowing Chinese growth have sapped investor appetite for risk.
While the German DAX Index has slumped by 1.1 percent, the French CAC 40 Index is down by 0.7 percent and the U.K.’s FTSE 100 Index is down by 0.5 percent.
Norwegian oil and gas company Statoil has fallen sharply after it agreed to pay $4 million to settle a U.S. charge over market manipulation.
French utility EDF has also moved to the downside on concerns surrounding possible delays in the delivery of nuclear plants.
German energy firm Innogy has come under pressure after the company announced that Werner Brandt, chairman of its supervisory board, will step down from his post at the end of the year.
On the other hand, Premier Foods has jumped nearly 7 percent in London after the company returned to a profit in the first half.
Aerospace giant Airbus has also rallied after winning an order worth a total $49.5 billion to sell 430 jetliners.
In economic news, French inflation accelerated to 1.1 percent in October from 1 percent in September, final data from statistical office Insee showed.
The U.K. jobless rate came in at 4.3 percent in three months to September, the same as in three months to August but down from 4.8 percent a year earlier.
The euro area trade surplus increased in September from August as exports increased amid a fall in imports, Eurostat reported. Exports grew 1.1 percent sequentially, while imports decreased 1.2 percent.
