© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 28, 2021. REUTERS/Staff
(Reuters) – 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 index fell 1.0%, heading further away from all-time highs.
Basic resources and oil and gas sectors, among the recent top gainers on the back of a surge in commodity prices, fell over 2% as a strong dollar put a dent in metal and oil prices. [MET/L]
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:), 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.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.