European Shares Tumble On China Data, Rate-cut Doubts
(RTTNews) - European stocks traded sharply lower on Wednesday after several ECB policymakers warned that markets are getting ahead on rate cut expectations.
U.K. inflation unexpectedly accelerated in December and China missed fourth-quarter GDP estimates, adding to uncertainty over the global economic and rate outlook.
The pan European STOXX 600 was down 1.3 percent at 466.91 after closing 0.2 percent lower on Tuesday.
The German DAX dropped 1.1 percent, France's CAC 40 shed 1.3 percent and the U.K.'s FTSE 100 was down 1.5 percent.
Meal delivery group Just Eat Takeaway.com was marginally higher in a weak market after lifting its full-year core profit outlook.
Italy's Enel S.p.A. declined 1.7 percent after launching a dual-tranche sustainability-linked bond in the Eurobond market for 1.75 billion euros.
Miner Antofagasta fell more than 3 percent after releasing its annual producer figures.
Betting and gaming company 888 Holdings plunged 9 percent as it reported weak revenues in its fourth quarter and fiscal 2023.
Airline Wizz Air Holdings lost 3.3 percent after an announcement that it will pay an additional £1.2 million pounds ($1.5 million) to customers in compensation.
China-exposed luxury brand LVMH dropped 1.7 percent in Paris, Kering tumbled 2.7 percent and Hermes International fell 1.1 percent on concerns about China's uneven economic recovery.
Automaker Renault lost 2 percent despite posting an increase in its annual global sales volumes.
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