{"id":11795,"date":"2021-07-14T09:44:49","date_gmt":"2021-07-14T09:44:49","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/14\/european-shares-slip-on-inflation-worries\/"},"modified":"2021-07-14T09:44:49","modified_gmt":"2021-07-14T09:44:49","slug":"european-shares-slip-on-inflation-worries","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/14\/european-shares-slip-on-inflation-worries\/","title":{"rendered":"European Shares Slip On Inflation Worries"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

European stocks declined on Wednesday as investors fretted about the impact higher prices will have on economies around the world.<\/p>\n

Official data showed earlier today that U.K. consumer inflation rose to 2.5 percent in June from 2.1 percent in May. The rate was forecast to climb to 2.2 percent.<\/p>\n

The annual growth was largely driven by prices of food, second-hand cars and clothing and footwear.<\/p>\n

On a monthly basis, consumer prices gained 0.5 percent, following a 0.6 percent rise in May. The expected rate was 0.2 percent. <\/p>\n

Weak Eurozone industrial production data also dented sentiment. Industrial output fell 1 percent on a monthly basis in May, reversing a revised 0.6 percent rise in April, Eurostat said. The pace of decline exceeded the economists’ forecast of -0.2 percent.<\/p>\n

Meanwhile, after U.S. inflation data blew past Wall Street’s expectations, investors now wait for guidance from Fed Chairman Jerome Powell, who delivers his semi-annual testimony on monetary policy and the economy<\/span> today and tomorrow.<\/p>\n

The pan European Stoxx 600 dropped 0.3 percent to 459.56 after ending flat with a positive bias on Tuesday. <\/p>\n

The German DAX and France’s CAC 40 index both slipped around 0.2 percent, while the U.K.’s FTSE 100 was down half a percent. <\/p>\n

Swedish telecoms operator Tele2 jumped 5.4 percent after it reported an 8 percent rise in quarterly core earnings. <\/p>\n

Italian fashion company Brunello Cucinelli edged down slightly despite raising 2021 sales forecast for the second time this year. <\/p>\n

Travel & leisure stocks were losing ground, with TUI tumbling 4 percent on reports the world’s largest holiday company has cancelled more holidays until August.<\/p>\n

easyJet dropped 1.6 percent, Ryanair Holdings shed 0.6 percent and British Airways owner IAG lost 1.2 percent on worries over the Delta variant’s spread in the continent.<\/p>\n

German airline Lufthansa fell nearly 1 percent after saying passenger numbers are currently around 40 percent of pre-pandemic levels.<\/p>\n

Fashion house Hugo Boss rallied 3.5 percent. The company remains confident that its overall business<\/span> recovery will continue in the second half of 2021, despite the persisting uncertainties regarding the further development of the pandemic. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n