Economic news

European Share Rally Pauses as Focus Turns to Inflation

Feb 17 (Reuters) - European shares retreated from near one-year highs on Wednesday as concerns about a possible rise in inflation tempered optimism around a vaccine-led global economic recovery, while Kering tumbled after sales at its Gucci brand fell more than expected.

Shares of the French conglomerate, which also owns the Saint Laurent brand, slumped 8.2% as revenue for the whole group fell 8.2% in the fourth quarter. The broader European retail index fell 2.9%.

The pan-European STOXX 600 index was down 0.4% by 0804 GMT, with healthcare, telecoms and financial services stocks also leading declines.

London’s blue-chip FTSE 100 lost 0.4% as data showed British inflation rose a little more than expected in January.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Sriraj Kalluvila)

Source: Reuters

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree