European shares slip as miners, travel stocks weigh

MG News | March 10, 2021 at 02:00 PM GMT+05:00

0:00

March 10, 2021: European stocks pulled back on Wednesday after surging close to pre-pandemic levels a day earlier, as worries about rising inflation kept investors on edge, with mining and travel stocks leading the retreat.

The pan-European STOXX 600 index fell 0.3% by 0810 GMT, after hitting its highest level since late February 2020 on Tuesday.

Economically sensitive sectors such as miners, travel & leisure, and industrial companies led the declines in Europe, while telecoms and real estate stocks edged higher.

Meanwhile, data showed China's factory-gate prices rose at the fastest pace since November 2018 in February.

Among individual stocks, Zara-owner Inditex slipped 1.2% after it reported a 70% fall in 2020 net profit as a year of global lockdowns kept many of its shops shut.

Just Eat Takeaway.com rose 2.9% after the food-ordering company said it expected further growth in 2021.

Reuters

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