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Inflation angst sends European stocks lower for third day – Metro US

Inflation angst sends European stocks lower for third day

German share price index DAX graph is pictured at the
German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) – 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%, 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% as British inflation hit a 30-year high last month. [.L]

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

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

Telecom Italia’s (TIM) gained 2.9% after reports French telecoms group Iliad was interested in making an offer TIM’s domestic consumer service business.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)

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