Europe stocks trade lower as German economy contracts

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Europe stocks traded lower in early action on Wednesday after data showing the Continent’s largest economy contracted.

After halting a two-day losing run on Tuesday, the Stoxx Europe 600 SXXP, -0.21%  dropped 0.16% to 371.82, with banks including Deutsche Bank DBK, -2.13%  and Banco Comerical Portugues BCP, -2.52%  lower.

The U.K. FTSE 100 UKX, -0.04%  dropped 0.01% to 7249.92, the German DAX DAX, -0.34%  dropped 0.25% to 11720.91and the French CAC 40 PX1, -0.33%  declined 0.23% to 5350.82.

Germany’s economy shrank by 0.1% in the second quarter, according to data released by Destatis, the statistics agency. Eurozone GDP for the second quarter is due later.