European Stock Losses Deepen Following Inflation Print, Higher Energy Prices
Dow Jones
Yesterday
1132 GMT - European stocks extend losses through the European morning after eurozone inflation rose for a third-straight month in August, bolstering investor expectations of an ECB rate hike next week. The Europe-wide Stoxx 600 trades down 0.7% after opening flat. Losses are most sharp among energy-intensive industries, as Brent crude oil and benchmark gas contracts each rise by around 2%. A basket of European auto stocks falls 2.1%, while an aerospace and defense gauge is down 2.5%. London's FTSE 100 trades 0.8% lower as metals miners slide, while the CAC 40 trades down 0.4% after initially gaining Tuesday. The industrial-heavy DAX falls 1.1%, dragged by a 3.2% decline for Rheinmetall. ASML is flat after opening higher, taking steam out of the Dutch AEX, which falls 0.4%.
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