London—World stocks slipped on Monday, with weak business activity data and an inconclusive election result in Spain weighing on sentiment in Europe ahead of a central bank-packed week for markets. German business activity contracted in July, increasing the likelihood of a recession in the second half of the year, the German Flash Composite Purchasing Managers’ Index (PMI) showed. HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the eurozone, seen as a good gauge of overall economic health, dropped to an eight-month low of 48.9 in July from June’s 49.9. This together with news that no clear winner had emerged from Spain’s snap election on Sunday added to a sombre mood as European markets opened....
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