For European stocks, a rebound from the worst weekly drop since July was short-lived.
The Stoxx Europe 600 Index lost 0.3 percent to 385.97 at 9:02 a.m. in London. All but one of 19 industry groups fell, with commodity producers leading declines. BHP Billiton Ltd. and Antofagasta Plc slipped 1.1 percent or more.
Europe’s benchmark equity gauge added 0.3 percent yesterday, after slumping 2.7 percent last week as China’s currency devaluation stoked concern it will hurt exporters’ sales.
German stocks are among the most affected by the yuan’s drop, with the DAX Index down for a third day, taking its decline from a record to 12 percent. The gauge dipped below its 200-day average for the fourth time in five days.
Data at 9:30 a.m. in London may show U.K. consumer prices remained flat in July from a year earlier. Another report is forecast to show U.S. housing starts increased to a 1.18 million annualized pace from the prior month.
Among shares active on corporate news, Jyske Bank A/S advanced 3.7 percent after saying earnings beat its forecasts.
Glencore Plc climbed 1.1 percent. Harris Associates LP, one of its biggest shareholders, increases stake in the miner in the last 30 days, said David Herro, chief investment officer for international stocks.
source: Bloomberg
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