European equities sank yesterday on poor data, airline sector turbulence and the strong euro, which neared a two-year dollar peak.
Just after midday, London’s FTSE 100 index was down 0.9 percent, with airlines hard hit after low-cost Irish carrier Ryanair posted soaring first-quarter profits but hinted at a price war in the sector. Eurozone stocks also slid as a key survey showed that private sector business activity slowed in July for the second month running.
IHS Markit said its July Composite Purchasing Managers Index (PMI) came in at 55.8 points, the lowest reading in six months.
