Business

European stock markets end Tuesday lower as August inflation soars

STOXX Europe 600 slips 0.38%, France’s CAC 40 down 0.11%

Major indices on European stock exchanges closed lower on Tuesday, as eurozone inflation’s surge to a 10-year high in August sparked fears of a possible change in monetary policy.

Consumer prices in the EU are projected to rise 3% in August,higher than the European Central Bank’s 2% target, according to the bloc’s statistics office Eurostat.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 1.80 points, or 0.38%, to 470.88 points.

Germany’s DAX 30 dropped 52.22 points, or 0.33%, to 15,835, while France’s CAC 40 slipped 7.12 points,or 0.11%, to 6,680.

Italy’s FTSE MIB climbed 14.98 points, or 0.06%, to 26,009, while Spain’s IBEX 35 fell 21.30 points, or 0.24%, to 8,846.

London’s FTSE 100 index posted a 0.40% decrease to close at 7,119 points.

Source
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