LONDON: European stocks ended lower Tuesday after a surprise devaluation of the yuan battered key exporters to China such as auto and luxury goods groups, offsetting news of a technical agreement in Greece’s bailout deal.
A survey indicating investor sentiment in Germany fell sharply in August also darkened investor outlook.
London’s benchmark FTSE 100 index ended the day 1.06 percent lower at 6,664.54 points compared with Monday’s close.
Frankfurt’s DAX 30 finished 2.68 percent down at 11,293.65 points while the CAC 40 in Paris closed 1.86 percent behind at 5,099.03.
Athens’ main index grew 2.14 percent to 705 points.
In foreign exchange, the euro rose to $1.1069 from $1.1019 late in New York on Monday.
“European equities on the back foot… in reaction to China’s currency devaluation and despite proximity to a Greek bailout deal,” said Mike van Dulken, head of research at Accendo Markets.
