European Shares Fall Ahead Of US Inflation Data

European stocks declined on Tuesday ahead of U.S. consumer price inflation data due out later in the day.

The report may show a further slowing of price pressures, with the annual increase in inflation expected to fall below 3 percent for the first time since 2021.

Meanwhile, France’s unemployment rate held steady in the fourth quarter after rising in the previous two quarters, the statistical office INSEE reported earlier today.

The pound strengthened against its major peers after official data showed the U.K. jobless rate declined in the fourth quarter.

The ILO unemployment rate fell to 3.8 percent in the fourth quarter from 3.9 percent in the prior period, according to figures from the Office for National Statistics. The rate was also below economists’ forecast of 4.0 percent.

German and eurozone ZEW economic sentiment figures are awaited later in the day.
The pan European STOXX 600 was down 0.3 percent at 486.25 after rising half a percent in the previous session.

The German DAX shed 0.6 percent, France’s CAC 40 slipped 0.3 percent and the U.K.’s FTSE 100 was down 0.1 percent.

Randstad NV rose about 1 percent. The Dutch staffing company said it would return 632 million euros ($680.8 million) to shareholders as part of its capital allocation policy,

Travel operator TUI Group rose 1.3 percent after it reported a narrower loss for the first quarter, amidst an increase in revenue on higher demand at improved prices and rates. In addition, the company has reaffirmed its full-year guidance.

Thyssenkrupp Nucera gained 1.4 percent. The hydrogen company said its first-quarter sales rose by more than a third due to rising demand for its electrolyser technology.

Cairn Homes fell about 1 percent. The Irish homebuilding company announced that it has appointed Richard Ball as its chief financial officer, effective April 10.

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