AIRLINK 184.69 Increased By ▲ 0.20 (0.11%)
BOP 12.78 Increased By ▲ 0.02 (0.16%)
CNERGY 7.81 Increased By ▲ 0.12 (1.56%)
FCCL 40.84 Decreased By ▼ -0.36 (-0.87%)
FFL 15.18 Increased By ▲ 0.06 (0.4%)
FLYNG 26.94 Increased By ▲ 0.36 (1.35%)
HUBC 131.07 Decreased By ▼ -0.76 (-0.58%)
HUMNL 13.82 Decreased By ▼ -0.27 (-1.92%)
KEL 4.51 Increased By ▲ 0.01 (0.22%)
KOSM 6.14 Decreased By ▼ -0.25 (-3.91%)
MLCF 51.23 Decreased By ▼ -0.48 (-0.93%)
OGDC 212.11 Increased By ▲ 3.23 (1.55%)
PACE 6.29 Increased By ▲ 0.02 (0.32%)
PAEL 42.55 Increased By ▲ 0.47 (1.12%)
PIAHCLA 16.51 Decreased By ▼ -0.11 (-0.66%)
PIBTL 8.94 Decreased By ▼ -0.14 (-1.54%)
POWER 11.10 Decreased By ▼ -0.17 (-1.51%)
PPL 175.00 Increased By ▲ 2.14 (1.24%)
PRL 34.73 Decreased By ▼ -0.34 (-0.97%)
PTC 23.94 Decreased By ▼ -0.50 (-2.05%)
SEARL 94.42 Decreased By ▼ -0.86 (-0.9%)
SILK 1.14 Increased By ▲ 0.01 (0.88%)
SSGC 33.11 Decreased By ▼ -1.07 (-3.13%)
SYM 17.11 Decreased By ▼ -0.61 (-3.44%)
TELE 8.25 Decreased By ▼ -0.02 (-0.24%)
TPLP 11.45 Decreased By ▼ -0.22 (-1.89%)
TRG 60.25 Decreased By ▼ -0.23 (-0.38%)
WAVESAPP 11.39 Decreased By ▼ -0.14 (-1.21%)
WTL 1.45 Decreased By ▼ -0.01 (-0.68%)
YOUW 3.93 Decreased By ▼ -0.08 (-2%)
AIRLINK 184.69 Increased By ▲ 0.20 (0.11%)
BOP 12.78 Increased By ▲ 0.02 (0.16%)
CNERGY 7.81 Increased By ▲ 0.12 (1.56%)
FCCL 40.84 Decreased By ▼ -0.36 (-0.87%)
FFL 15.18 Increased By ▲ 0.06 (0.4%)
FLYNG 26.94 Increased By ▲ 0.36 (1.35%)
HUBC 131.07 Decreased By ▼ -0.76 (-0.58%)
HUMNL 13.82 Decreased By ▼ -0.27 (-1.92%)
KEL 4.51 Increased By ▲ 0.01 (0.22%)
KOSM 6.14 Decreased By ▼ -0.25 (-3.91%)
MLCF 51.23 Decreased By ▼ -0.48 (-0.93%)
OGDC 212.11 Increased By ▲ 3.23 (1.55%)
PACE 6.29 Increased By ▲ 0.02 (0.32%)
PAEL 42.55 Increased By ▲ 0.47 (1.12%)
PIAHCLA 16.51 Decreased By ▼ -0.11 (-0.66%)
PIBTL 8.94 Decreased By ▼ -0.14 (-1.54%)
POWER 11.10 Decreased By ▼ -0.17 (-1.51%)
PPL 175.00 Increased By ▲ 2.14 (1.24%)
PRL 34.73 Decreased By ▼ -0.34 (-0.97%)
PTC 23.94 Decreased By ▼ -0.50 (-2.05%)
SEARL 94.42 Decreased By ▼ -0.86 (-0.9%)
SILK 1.14 Increased By ▲ 0.01 (0.88%)
SSGC 33.11 Decreased By ▼ -1.07 (-3.13%)
SYM 17.11 Decreased By ▼ -0.61 (-3.44%)
TELE 8.25 Decreased By ▼ -0.02 (-0.24%)
TPLP 11.45 Decreased By ▼ -0.22 (-1.89%)
TRG 60.25 Decreased By ▼ -0.23 (-0.38%)
WAVESAPP 11.39 Decreased By ▼ -0.14 (-1.21%)
WTL 1.45 Decreased By ▼ -0.01 (-0.68%)
YOUW 3.93 Decreased By ▼ -0.08 (-2%)
BR100 11,930 Increased By 4.9 (0.04%)
BR30 35,810 Increased By 73.5 (0.21%)
KSE100 113,784 Decreased By -78 (-0.07%)
KSE30 35,387 Decreased By -13.7 (-0.04%)

PARIS: European shares slipped on Monday as hotter-than-expected inflation data from Spain added to market jitters as investors brace for a slew of interest rate hikes from prominent central banks later in the week.

The pan-European STOXX 600 closed down 0.2%.

Money market bets show that the US Federal Reserve is set to raise its policy rate by 25 basis points (bps) to 4.50%-4.75% on Wednesday, while the European Central Bank (ECB) and the Bank of England (BoE) are seen raising rates by 50 bps each to 2.50% and 4.0%, respectively, on Thursday.

Eurozone bond yields climbed after preliminary data showed Spain’s consumer prices rose by a greater-than-expected 5.8% year-on-year in January.

“What surprised some people was that in Spain, we had the first acceleration with the annual pace in six months and that is likely to keep the pressure elevated for the ECB to remain aggressive with their rate hikes,” said Edward Moya, senior market analyst at OANDA.

“It’s clearly a wait-and-see mode. Hotter inflation is something that will continue to spook markets.” Europe’s technology index was the top decliner among STOXX 600 sectors, down 1.7%, with chip stocks ASM International N.V. and Nordic Semiconductor among those posting the biggest losses.

Keeping London’s FTSE 100 afloat and limiting declines on the STOXX 600, UK-based consumer goods giant Unilever rose 1.3% after announcing a new chief executive officer.

Boosting the broader healthcare sector, Philips jumped 7%, after the Dutch health technology company said it will scrap another 6,000 jobs.

Germany’s DAX index was down 0.2%.

The German economy unexpectedly fell in the fourth quarter, a sign that Europe’s largest economy may be entering a much-predicted recession as an effect of the Ukraine war.

Crucial euro zone inflation data due a day before the ECB’s meeting will only include an estimate for Germany after the bloc’s biggest country delayed the release of its own figures, Eurostat said on Monday.

Optimism around better-than-feared corporate earnings and economic resiliency have set the STOXX 600 index on track for a monthly gain of nearly 7%, after losing nearly 13% in 2022.

Earnings for STOXX 600 companies have likely jumped around 10% in the fourth quarter, down from 14.5% seen at the start of January, Refinitiv data showed.

Among other stocks, PNE AG dropped 16.1%, after the German renewables firm said Morgan Stanley is no longer pursuing a stake sale.

Comments

Comments are closed.