LONDON – European equities fell on Wednesday as investors prepare for the latest US inflation reading on Friday.
The pan-European Stoxx 600 moved around the flat line in first trade, with retail stocks adding 1.8% while basic resources down 0.7%.
Shares of Credit Suisse fell more than 5% after the conflicting lender warned that it was likely to have losses for the entire group during the second quarter.
At the top of the European Blue Chip Index, Kindred Group rose more than 11% after securing a betting license in the Netherlands.
International markets have retreated this week amid nervousness over upcoming U.S. data releases this week, including Friday’s latest inflation reading.
The US consumer price index for May in the US is expected to be slightly lower than in April, and some economists expect it to confirm that inflation has peaked.
The University of Michigan Consumer Sentiment Index, also available Friday, will also be closely monitored by investors.
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Shares of Asia-Pacific stocks rose on Wednesday morning as investors await the Reserve Bank of India’s latest decision on interest rates expected later today. Meanwhile, US stock futures fell marginally overnight after two consecutive days of gains on Wall Street.
The profits come from the Inditex retailer in Europe.
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