European shares fell sharply at the opening on Friday, falling in line with the global sell-off sparked by hot US inflation figures and fears of more aggressive interest rate rises ahead.
The pan-European Stoxx 600 fell 0.78% after data showed US January consumer prices rose 7.5% – the biggest rise in 40 years.
In the UK, official data showed the economy expanded by 7.5% last year, ahead of expectations and despite a slowdown in December due to the Omicron Covid variant.
Investors took flight as St. Louis Federal Reserve Bank President James Bullard said the data had made him “dramatically” more hawkish.
In equity news, Delivery Hero shares slumped a further 9% after a 25% plunge on Thursday driven by weaker-than-expected forecasts by the food delivery platform.
Volvo Cars slipped 4.7% after posting earnings below analysts’ expectations, pressured by the lingering global supply shortages.
State-controlled French power company EDF fell after cutting its estimate for its French nuclear output in 2023 from 340-370 TWh to 300-330 TWh.
On the upside, food products and sugar producer Tate & Lyle gained 8% after an upbeat final three months of 2021 led to a rise in revenues.
