LONDON (The Deal) -- European markets slipped Tuesday, despite some rises in Asia, in part because China's better-than-expected GDP figures released Monday also proved to be the lowest rate of growth since 2009. The general mood of gloom was heightened by news of further job losses among Britain`s few remaining steel makers, as Chinese exports continue to flood world markets.
In London, the FTSE 100 was down 0.45% at 6,323.48. In Frankfurt, the DAX was down 0.59% at 10,104.63. The CAC 40 in Paris was off 0.94 at 4,659.70.
The results season is in full swing in Europe.
In London, e-commerce retailer Asos (ASOMY) was up 5.6% at 3,088 pence after it announced revenues up 18% to £1.15 billion ($1.78 billion) in the year to Aug. 31.
Intercontinental Hotels Group (IHG) - Get InterContinental Hotels Group PLC Sponsored ADR Report, the world's largest hotel operator by number of rooms, was up 4.85% at 2,423 pence after announcing a 4.8% rise in revenue per available room in the first half. However, it also said that growing occupancy rates in the key China market had been offset by lower prices.
Hotels and hospitality group Whitbread (WTBCY) was up 1.99% at 4,819 pence, after a strong set of results especially from its coffee shop chain Costa, which competes head to head with Starbucks in the U.K.
French power group Electricite de France fluctuated around Monday`s closing price of euro 17.22 despite a reported deal , signed in the hours before the start of a visit to the U.K. of Chinese president Xi Jinping, for Chinese state-owned enterprises to take a one third stake in EDF`s project to build a new generation nuclear power station in Britain. EDF was up 0.12% at 17.24 at midday Paris time.
In Tokyo, the Nikkei closed up 0.42% at 18,207.15, while in Hong Kong, the Hang Seng finished down 0.37% at 22,989.22. In China, the Shanghai Composite was up 1.14% at 3,425.33, while the tech-heavy Shenzhen Composite was up 1.23% at 3,577.70.