Europe Markets: European stocks slip on Chinese concerns

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European stocks slipped on Tuesday on worries about China’s regulatory crackdown, as household products maker Reckitt Benckiser dropped after reporting a rise in costs.

The Stoxx Europe 600
SXXP,
-0.35%

fell 0.4% to 459.43.

Of the major regional indexes, the German DAX
DAX,
-0.41%

declined 0.5%, the French CAC 40
PX1,
-0.19%

declined 0.2% and the U.K. FTSE 100
UKX,
-0.38%

declined 0.5%.

The Hang Seng HK:HSI fell more than 4% for a second straight session, weighing on a range of Chinese tech companies listed there. According to FactSet, 8% of FTSE 100 and DAX company revenue derives from China, as does 7% of CAC 40 revenue.

Decliners included Reckitt Benckiser
RKT,
-8.93%
,
which dropped 9% after joining Unilever
ULVR,
+0.17%

in reporting how rising costs have eaten into its profit, and Prosus
PRX,
-8.49%
,
which is the largest investor in Chinese tech giant Tencent
700,
-8.98%
.

LVMH Moet Hennessy
MC,
+2.02%

bucked the decline, rising 2% as the world’s top luxury goods maker reported a stronger-than-forecast first-half profit.

Just Eat Takeaway.com
TKWY,
+3.18%

added 3% as one of its leading shareholder called for the delivery group to merge with a rival.