European Stocks Slip

After reaching a five-week high, European stocks slipped Thursday. “The mood of market participants is still characterized by great uncertainty about future developments in Europe and the slowdown in China,” Stefan Angele, investment management head at Swiss & Global Asset Management, told reporters. Reports that came out this week predicted that China’s manufacturing industry would continue to shrink in the coming month, and the United States Federal Reserve said that the economy would only grow at a rate of 1.9 percent to 2.4 percent this year. A National Association of Realtors report due out Thursday morning will reportedly show that house sales dipped in May.