European stocks drop as China economic growth slowed

Stock markets across Europe are trading on a softer note as investors weigh the impact of China’s growth slowdown on Eurozone economy.

At the time of writing, Stoxx 50 index was down 0.17%. Germany’s DAX and France’s CAC were down 0.46% and 0.30% respectively. UK’s mining heavy FTSE was down 0.10% as well. The broader Stoxx 600 index was largely unchanged on the day.

Among stocks, Norway’s Subsea 7 was up 2%. UK’s BHP Billiton and SABMiller was up 1.4% and 1.2% respectively. Meanwhile, losing side included names like Swiss Julius Baer, France’s Faurecia and Norway’s Orkla.

China's first-quarter GDP expanded by 6.7% on-year matching estimated, but slightly lower than Q4 2015 GDP of 6.8%. Markets in Asia had a broadly muted reaction to the data, although Chinese markets weakened.