European stocks Slip as credit downgrade, China data weight

European stocks fell on Monday, breaking the five -week winning series, surprising U.S. Credit rating as a downgrade and poor economic data from China weighs on investors’ spirit.

The Pan-European StokesX 600 index was down 0.5% by 0725 GMT, withdrawing from the seven-week high on Friday.

US stock index futures have increased more than 1% and US treasury yields for a long time, while credit rating agency Moody has cut its ratings on the country’s debt, citing concerns about the country’s growing TR 36 trillion $ Ile Gala.

The euro zone is also higher than the government’s bonds.

Meanwhile, luxury stocks declined after missing the expectations of retail sales data in April. Hermes, Berberries and Monclar have fallen by almost 2% because of European luxury companies as a large market for their products on China.

BNP Paribas shares increased 2.4% after French bank announced a stock buyback plan of 1.08 billion euros ($ 1.21 billion).

Volkswagen lost 3.1% as German Auto Tomaker traded the former dividend. ($ 1 = 0.8921 euros)