European shares sink ahead of EZ inflation data

European shares sink ahead of EZ inflation data

On Friday, European shares headed south, as traders were eyeing the publication of euro zone inflation data, after a downbeat reading in Germany on Thursday.

The EURO STOXX 50 decreased 0.26%, France’s CAC 40 lost 0.22%, Germany’s DAX 30 dived 0.02%.

European equities sagged after data on Thursday, which revealed that German annual inflation decreased to 1.6% this month from February’s outcome of 2.2%, which turned to be the highest rate since August 2012.

The report arose after ECB chief economist Peter Praet told that the bank is still not sure that the recent pickup in inflation will be durable enough and repeated that underlying inflation pressures is still subdued.

Financial markets were also anxious after on Wednesday, British Prime Minister Theresa May formally started Brexit proceedings, thus launching a two-year negotiation process before the move comes into effect in March 2019.

In London, FTSE 100 went down 0.29%, suppressed by Old Mutual PLC, whose stocks dipped 6.59%. 

 

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