Thursday , September 16 2021

European stocks close flat as inflation optimism cools



The European stock market closed flat on Tuesday, with the mining, banking and luxury goods sectors the main losers, as optimism about the market faded in August. decline in inflation in the United States.
The pan-European Stoxx 600 index ended the trading session down 0.01 percent, affected by a decline in the basic resources index by 1.9 percent and the banking index by 1.1 percent. -hundred.
Stocks of luxury goods fell between 1.9 percent and 3 percent, following steps in Asia over concerns about the spread of Covid-19 infections in China.
Among the major stock exchanges in Europe, the French CAC 40 index closed 0.4 percent, while the British FTSE 100 index, heavy with miners, fell 0.5 percent. The German DAX index fell 0.14 percent.
Earlier in the day, data showed that major consumer prices in the US grew at the slowest pace in six months in August, indicating that inflation in the largest consumer economy the world has peaked, although it may remain high for some time as supply restrictions persist.
The report boosted morale that quickly vanished as investors realized that this data would not lead the Federal Reserve to change the course of its policy, and expects the Central Bank of the United States to United States postpones announcement to reduce monetary stimulus.


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