Europe open: Shares lower as inflationary pressures weigh

by | Apr 13, 2022

European shares opened lower again as inflation data from the US and UK dampened sentiment.
The pan-European Stoxx 600 was down 0.10% in early deals with regional bourses following suit.

US consumer prices rose to their highest level in 40 years in March, while official data released in Britain showed inflation hitting a 30-year high last month.

Investors were also eyeing the war in Ukraine as Russia massed forces in the country’s east as it continued to destroy cities in the region.

In equity news, UK retailer Tesco fell 5% after it warned profit was likely to fall in the current year.

French luxury goods maker LVMH rose 1% on demand for its Louis Vuitton and Dior brands boosted first-quarter sales.

Telecom Italia rose after reports French telecoms group Iliad was interested in making an offer TIM’s domestic consumer service business.

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