European Shares Slip On Inflation, Growth Concerns
(RTTNews) - European stocks were broadly lower on Wednesday as higher oil prices and weak U.S. data rekindled recession worries.
Euro area economic indicators also drew interest, with Eurozone Composite PMI falling below expectations despite hitting a 10-month high.
Elsewhere, the final reading of the S&P Global/CIPS UK Services PMI rose to 52.9 from a preliminary reading of 52.8.
German factory orders grew 4.8 percent on a monthly basis in February, much faster than the 0.5 percent revised rise in January, Destatis reported.
French industrial output rose 1.2 percent month-on-month in February, after having declined by a downwardly revised 1.4 percent in January, statistical office Insee said.
The pan European STOXX 600 was down 0.2 percent at 46.36 after finishing marginally lower on Tuesday.
The German DAX slipped 0.3 percent and France's CAC 40 index eased 0.2 percent, while the U.K.'s FTSE 100 was up 0.3 percent.
UBS fell about 1 percent on eve of the Swiss bank's annual shareholder meeting.
British insurer Direct Line jumped 5.7 percent after an upgrade from Citigroup.
Lookers Plc rallied 2.4 percent after the automotive retail and service group reported higher profit after tax in its fiscal 2022 with strong revenue growth.
Utility Centrica gained 2.5 percent after commencing a share buyback program.
Catering and food services group Sodexo soared 10 percent in Paris after it unveiled plans to spin off and list its Benefits & Rewards Services business in 2024.
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