European Markets Close Lower As Inflation, Growth Concerns Weigh
RTTNews European stocks closed lower on Wednesday, weighed down by rising concerns about inflation due to high oil prices, slowing economic growth, and possibility of further monetary tightening by global central banks.
The pan European Stoxx 600 ended 0.57% down. The U.K.'s FTSE 100 edged down 0.16%, Germany's DAX drifted down 0.19% and France's CAC 40 lost 0.84%, while Switzerland's SMI lost 0.31%.
Among other markets in Europe, Austria, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain and Turkiye closed weak.
Belgium and Finland ended higher, while Czech Republic, Denmark and Sweden closed flat.
In the UK market, Just Eat Takeaway.com shares dropped more than 5%. Burberry Group drifted down 4.7%. IAG and Easyjet ended lower by about 3.7% and 3.3%, respectively.
St. James's Place, Prudential, Rolls-Royce Holdings, Associated British Foods, Hargreaves Lansdown, Ashtead, Smurfit Kappa Group, 3I, Persimmon, Fresnillo, AstraZeneca, CRH, Hikma Pharmaceuticals and Ferguson lost 1 to 2.3%.
