European share rally pauses as focus turns to inflation; Kering slips

The pan-European STOXX 600 index was down 0.4% by 0804 GMT, with healthcare, telecoms and financial services stocks also leading declines. London's blue-chip FTSE 100 lost 0.4% as data showed British inflation rose a little more than expected in January.

Reuters | Updated: 17-02-2021 14:12 IST | Created: 17-02-2021 13:41 IST
European share rally pauses as focus turns to inflation; Kering slips
Representative Image Image Credit: Pixabay

European shares retreated from near one-year highs on Wednesday as concerns about a possible rise in inflation tempered optimism around a vaccine-led global economic recovery, while Kering tumbled after sales at its Gucci brand fell more than expected.

Shares of the French conglomerate, which also owns the Saint Laurent brand, slumped 8.2% as revenue for the whole group fell 8.2% in the fourth quarter. The broader European retail index fell 2.9%. The pan-European STOXX 600 index was down 0.4% by 0804 GMT, with healthcare, telecoms and financial services stocks also leading declines.

London's blue-chip FTSE 100 lost 0.4% as data showed British inflation rose a little more than expected in January.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Viral variants and vaccine nationalism pose two-pronged threat to Covid victory

... ...

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Videos

Latest News

U.S. stands with Czech Republic's response to 'Russia's subversive actions'

The United States said on Sunday it stood with the Czech Republic after it expelled Russia diplomats and accused Moscow of being behind an explosion at a Czech ammunition dump.The U.S. stands with the Czech Republic in its firm response aga...

Mexican president to propose extension of welfare programs to curb migration

Mexican President Andres Manuel Lopez Obrador said on Sunday that he plans to propose his U.S. counterpart Joe Biden an extension of one of his key welfare programs to Central America to help curb immigration. Hunger and poverty have driven...

France restricting travel from 4 countries to curb variants

France is imposing entry restrictions on travelers from four countries Argentina, Chile, South Africa and Brazil in hopes of keeping out especially contagious coronavirus variants, the government has announced.The restrictions include man...

Red flags on Army vehicles replaced with white-and-blue ones in Jammu and Kashmir

The Army in Jammu and Kashmir has replaced red flags on its vehicles with white-and-blue ones and road barriers in sensitive zones have been given a new look in a move to ease the feeling of alienation among people during security checks an...

Give Feedback