European Shares Decline After Spain Inflation Surge

RTTNews | 1135日前

(RTTNews) - European stocks fell on Wednesday following a three-day rally. A cautious undertone prevailed ahead of a speech by European Central Bank President Christine Lagarde at the Sintra forum, alongside Federal Reserve Chairman Jerome Powell and Bank of England Governor Andrew Baile.

In economic releases, Eurozone's final consumer confidence index arrived at -23.6 in June vs. -23.6 recorded previously, matching estimates.

A preliminary reading on German inflation is awaited. The euro trimmed losses after Spain's annual inflation rate hit a 37-year high.

U.K. shop prices grew at the fastest pace since 2008, reflecting the cost of living crisis, separate data published by the British Retail Consortium showed.

The BRC-NielsenIQ shop price index increased 3.1 percent on a yearly basis in June, following May's 2.8 percent rise. This was the biggest annual growth since September 2008.

The pan European Stoxx 600 was down 0.8 percent at 412.90 after closing 0.3 percent higher on Tuesday.

The German DAX fell 1.4 percent, France's CAC 40 index slid 0.7 percent and the U.K.'s FTSE 100 was down half a percent.

Miners fell after recent gains on hopes of resurgent demand from China. Anglo American and Antofagasta fell around 2 percent each.

Budget footwear retailer Shoe Zone surged 13.5 percent after a positive trading update.

Capita lost 3.3 percent. The outsourcing business said that revenue for the first half of the year was in line with expectations.

Discount retailer B&M European Value Retail advanced 2.7 percent despite reporting a sales drop in the first quarter.

EssilorLuxottica shares declined 2.6 percent. Leonardo Del Vecchio, the chairman of the eyeglass retailer and one of Italy's wealthiest business figures, passed away at the age of 87.

Hornbach Baumarkt, a DIY-store chain, tumbled 3.2 percent after reporting a decline in earnings for the first quarter.

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EURUSD	1.16371	GBPUSD	1.34244	AUDUSD	0.65002
USDJPY	147.355	USDCAD	1.37553	USDCHF	0.80763

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European Shares Decline After Spain Inflation Surge