UPDATE 1-European shares dip after weak China data; Tullow slumps

9 Dec by Vitaliy Dadalyan

UPDATE 1-European shares dip after weak China data; Tullow slumps

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UPDATE 1-European shares dip after weak China data; Tullow slumpsEuropean stocks slipped on Monday, dragged down by a slump in shares of Tullow Oil Plc after the oil and gas explorer scrapped its dividend, while weak data out of China also weighed on sentiment. Tullow Oil shares hit a 19-year low after its Chief Executive Paul McDade also stepped down, as the firm continues to face issues at its main producing assets in Ghana. The latest data out of China showed exports in November shrank for the fourth straight month, in a sign the world’s second largest economy continues to reel from the impact of a prolonged trade war with the United States.