European stocks were under pressure on Friday after the ECB delivered its hawkish guidance and parts of China’s largest economic hub imposed new lockdown.
The focus shifted to U.S. consumer inflation data due out later in the day that could influence the Federal Reserve’s rate-hike roadmap for fighting inflation.
The annual rate of consumer price growth is expected to hold at 8.3 percent in May, while the annual rate of core consumer price growth is expected to slow to 5.9 percent from 6.2 percent.
The pan European Stoxx 600 fell 1.4 percent to 428.31 after losing 1.4 percent on Thursday. The German DAX lost 1.7 percent, France’s CAC 40 gave up 1.5 percent and the U.K.’s FTSE 100 was down 1.1 percent.
Credit Suisse slumped 4.2 percent to extend losses after State Street Corp. said it’s not pursuing any acquisition or business combination with the Swiss lender.
Just Eat Takeaway soared 8 percent on reports that its U.S. unit Grubhub is attracting preliminary interest from private equity firms including Apollo Global Management.
Airlines Ryanair, International Consolidated Airlines, Lufthansa and Wizz Air lost 2-5 percent as a labor strike in Europe drove expectations of more travel headaches during the busy summer season.
Drug maker GSK edged up slightly after its vaccine for respiratory syncytial virus (RSV) succeeded in an ongoing late-stage trial involving older adults.
Market Analysis
European Shares Slip Ahead Of US Inflation Report
2022-06-10 09:28:07
