European Market Review

European stock markets slipped this morning, as most traders and investors reacted to lower-than-expected economic data and the shut down of one of the world’s most well-known tour operators.

The pan-European Stoxx 600 retreated around 1% during mid-morning deals.Europe’s autos sector dropped 2% this morning.

France’s Faurecia, Germany’s Commerzbank and the Netherlands’ ArcelorMittal marked the weakest performers from their respective sectors, all lost around 3%.

Markit’s flash reading of composite German PMI (purchasing managers’ index) registered 49.1 in September, a tumble of 51.7 versus the previous month.

Thomas Cook shares TCG, the travel agency filed for liquidation, wiping out a company worth over £1.85 billion ($2.3 billion) last year.

Meanwhile, the German government requested an emergency loan by Thomas Cook Group Plc’s Condor subsidiary as Deutsche Lufthansa AG is still tight-lipped on the fate of a unit it bid for earlier this year.