World stocks softer, Italian banks suffer

European stocks closed softer on weak economic data but off their lows, while Wall Street was steady and investors tried to see the bright side of recent stress tests for banks. London slid 0.5 percent after a survey showed Britain's manufacturing industry has slumped to its lowest level in more than three years on the back of Brexit. The Milan stock market index ended the day 1.7 percent lower, dragged down by financials.