European stocks resume slide on rising inflation worries
13 May 2021
European stocks slid on Thursday, tracking a selloff on Wall Street, as a rapid rise in U.S. inflation spooked investors, while a drop in commodity prices weighed on heavyweight miners.
The pan-European STOXX 600 indices fell 1.0%, heading further away from all-time highs.
British luxury brand Burberry tumbled 8.8% on reporting a 10% drop in annual sales, weighed down by the COVID-19 pandemic.
UK’s biggest broadband and mobile provider, BT Group (LON:BT), fell 5.4% as it reported a 7% fall in revenue and a 6% fall in adjusted earnings for the full year.
Markets in Denmark, Finland, Norway, Sweden and Switzerland were closed for public holiday.
The pan-European Stoxx 50 climbed down by 1.48% to 4,888.8. In the cash markets, the DAX futures Germany was trading down 1.19% at 14,975.83. CAC 40 futures in France down by 1.28% to 6198.90 while the FTSE 100 futures in the U.K. down 0.80% at 6,896.4, at the time of writing.