European Shares Decline On Inflation, Interest Rate Worries

(RTTNews) - European stocks fell to a more than two-week low on Friday and were on track for a weekly decline, as hawkish comments from Federal Reserve officials and rising oil prices as a result of escalating tensions in the Middle East dented investors' appetite for riskier assets.

In economic releases, German factory orders posted a monthly growth of 0.2 percent in February, in contrast to the revised 11.4 percent decline in January, data from Destatis showed earlier today.

France's industrial output rose 0.2 percent on a monthly basis in February, following January's 0.9 percent decline, statistical office INSEE reported. The expected growth rate was 0.5 percent.

U.K. house prices dropped 1.0 percent on a monthly basis in March, in contrast to the 0.3 percent rise in February, data published by the mortgage lender Halifax showed. This was the first decrease since September.

Eurozone's retail sales dropped by 0.7 percent year-on-year in February, as against a 0.9 percent decline in January, Eurostat reported.

The pan European STOXX 600 was down 1.2 percent at 504.94 after gaining 0.2 percent in the previous session.

Travel and leisure stocks fell, with TUI AG losing 2.5 percent as Brent crude futures climbed past $91 a barrel mark on supply disruption risks amid heightened tensions in the Middle East.

Delivery Hero tumbled 3.2 percent after reports that activist investor Sachem Head has built a 3.6 percent stake in the online food takeaway company and seeking a seat on the supervisory board.

French food services company Sodexo fell nearly 2 percent ahead of its earnings results.

British housebuilder Barratt Developments dropped 1 percent, Persimmon fell 1.4 percent and Taylor Wimpey shed 1.6 percent on disappointing housing market data.

Global information services company Experian fell 1.7 percent. The company has agreed to acquire illion, a consumer and commercial credit bureaus in Australia and New Zealand, for a total consideration of up to A$820 million or US$532 million.

Oil & gas giant Shell was marginally higher after issuing its first quarter update. AstraZeneca fell about 1 percent despite reporting positive results for its blockbuster cancer drug Imfinzi in a late-stage trial.

Swiss IT firm SoftwareOne Holding shares fell more than 1 percent after all proxy advisors opposed the complete replacement of the firm's board of directors.

Finnish oil refining company Neste jumped 3.7 percent after announcing a major maintenance shutdown at its Porvoo refinery.