Inflation Angst Sends European Stocks Lower for Third Day

By Reuters
April 13, 2022 Updated: April 13, 2022

European shares retreated for a third straight session on Wednesday as anxiety about elevated inflation and its potential impact on upcoming earnings season dampened risk appetite.

The pan-European STOXX 600 index fell 0.2 percent, with retail and technology stocks offsetting gains in miners.

Wall Street reversed early gains to end lower on Tuesday after data showed U.S. consumer prices rose to over four-decade highs in March. UK’s FTSE 100 slipped 0.1 percent as British inflation hit a 30-year high last month.

Britain’s biggest retailer Tesco dropped 4.7 percent after it warned profit was likely to fall in the current year.

French luxury goods maker LVMH rose 1 percent as robust demand for Louis Vuitton and Dior products boosted first-quarter sales.