European stock markets slipped lower in thin trading yesterday as poor Chinese trade data raised concern about slowing economic growth in the Asian powerhouse nation.

London’s FTSE 100 index of top companies dipped by a slender 0.08 per cent to close at 5,847.11 points, Frankfurt’s DAX 30 edged down 0.29 per cent to 6,944.56 and the Paris CAC 40 fell 0.61 per cent at 3,435.62 points.

In Madrid, the Ibex 35 index lost 0.88 per cent to 7,047.7 points, while in Milan the FTSE Mib was down by 0.72 per cent at 14,549 points.

In foreign exchange deals, the European single currency slipped to $1.2294 from $1.2301 in New York late Thursday.

In London, Barclays Bank ended the day at the top of the FTSE gainers board, adding 2.60 per cent to 183.6 pence, after the bank said it had nominated David Walker to replace Marcus Agius as president.

Mr Agius had resigned in connection with the ongoing Libor rate scandal.

Analyst Craig Erlam at the Alpari brokerage highlighted a lack of market-moving news this week after European Central Bank president Mario Draghi had hinted at a resumption of the bank’s controversial bond-buying programme.

“The markets haven’t reacted well to this, with the rally fading in the first half of the week,” Mr Erlam noted.

Investor sentiment was partly boosted on Thursday as Chinese inflation data lifted hopes that Beijing would loosen monetary policy further, while US trade figures turned out to be better than expected.

But markets mostly fell yesterday as weak Chinese trade data reinforced concerns of a slowdown in the world’s number two economy, while profit-taking added to selling pressure.

In the US, stocks edged lower, with all eyes on the initial public offer (IPO) of the British football club Manchester United.

The blue-chip Dow Jones Industrial Average was down 0.10 per cent at 13,151.64 points

The broader S&P 500-stock index edged down by 0.14 per cent to 1,400.84, while the tech-rich Nasdaq fell 0.19 per cent to 3,013.01.

The downturn was an ominous omen for the debut of Britain’s most successful football team on the New York Stock Exchange, with the stock opening barely higher than its $14 cut-price initial public offering.

On public debt markets, the yield on 10-year Spanish bonds rose to 6.907 per cent from 6.846 per cent at the close of trade on Thursday, while Italian yields rose to 5.903 per cent from 5.859 per cent.

Once again, a lack of financial information was cited as a factor behind a lack of market activity.

In China, exports grew just one per cent in July year-on-year to $176.9 billion, while imports rose 4.7 per cent to $151.8 billion, cutting the trade surplus to $25.1 billion from $31.7 billion in June.

Chinese retail sales, industrial output and inflation all weakened in July, indicating the export-driven economy was feeling the effects of Europe’s debt crisis lowering demand in a key market.

The figures will also add to calls for China’s leaders to further loosen monetary policy to kick start growth, which in the April-June quarter grew at its slowest pace since the height of the global crisis in 2008-2009.

In Asian trade, Hong Kong shares fell 0.66 per cent and Shanghai shed 0.24 per cent. Tokyo lost 0.97 per cent and Sydney dipped 0.72 per cent.

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