- Global markets are gearing up for more earnings this week, following a stronger-than-expected start to the earnings season in the U.S. last week.
- British e-commerce company THG saw its shares surge 16% on Monday after announcing founder Matthew Moulding will surrender his "golden share" in the company.
LONDON — European stocks closed lower on Monday as investors reacted to slowing economic growth in China and soaring oil prices fueled elevated inflation concerns.
The pan-European Stoxx 600 provisionally ended down 0.5%, with autos stocks dropping 1.9% to lead losses. All sectors and major bourses closed the session in negative territory.
Global markets are gearing up for more earnings in the coming days, following a stronger-than-expected start to the U.S. earnings season last week.
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U.S. stocks rebounded on Monday, paring earlier losses after the major averages posted their best week in months last week.
In addition to better-than-expected earnings from Goldman Sachs on Friday, positive economic data also boosted stocks. Retail sales rose 0.7% in September, the Census Bureau said Friday, while economists surveyed by Dow Jones were expecting a decline of 0.2%.
A number of big names are set to report earnings in the coming week, including Netflix, Johnson & Johnson, United Airlines and Procter & Gamble on Tuesday. Tesla, Verizon and IBM are among the other names whose earnings are due to be released later this week.
Meanwhile, in Asia-Pacific, stocks mostly closed lower as investors reacted to the release of key Chinese economic data that showed China's gross domestic product grew 4.9% in third quarter. That was below expectations of analysts in a Reuters poll for a 5.2% expansion.
Industrial production also missed forecasts, rising 3.1% in September, against expectations in a Reuters poll for a 4.5% increase.
In terms of individual share price movement, embattled British e-commerce company THG saw its shares surge 20% on Monday after announcing founder Matthew Moulding will surrender his "golden share" in the company and move it to the premium segment of the London Stock Exchange in 2022.
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- CNBC's Pippa Stevens and Eustance Huang contributed to this report.