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European stocks react to US inflation data
European stocks experienced a mixed session following the release of the American inflation report, which was in line with expectations. This alleviated fears of an imminent interest rate hike by the Federal Reserve. The Stoxx 600 index declined by 0.1%, while Germany's DAX fell by 0.9%, France's CAC 40 by 0.5%, and Italy's FTSE MIB by 0.5%. In contrast, the London FTSE 100 closed up 0.3%. Stock movements were also influenced by company news, with Sanofi’s shares dropping 2.5% after halting its phase three drug trial, Switek’s shares plummeting over 11% following a downgrade, and Pioneon’s shares decreasing by 3.4% due to its annual financial results.
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