- 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.
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.