European Shares Subdued Ahead Of ECB Decision
(RTTNews.com) - European stocks were subdued on Thursday as weaker-than-expected data from China weighed on the mining sector and investors waited to find whether the European Central Bank will make a decision about its stimulus program later in the day.
On the data front, German consumer price inflation climbed 2.2 percent year-on-year in May, faster than the 1.6 percent increase in April but in line with the estimate published on May 30, final data from Destatis showed.
France's consumer price inflation accelerated as initially estimated in May, while U.K. retail sales growth accelerated more than expected.
The pound spiked higher after data showed U.K. retail sales volume including auto fuel, grew 1.3 percent month-on-month, following April's 1.8 percent increase. This was the second consecutive rise in sales and much bigger than the expected 0.5 percent.
The pan-European Stoxx Europe 600 index was down 0.4 percent at 386.65 in late opening deals after closing Wednesday's session 0.2 percent higher.
The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were down between 0.2 percent and 0.6 percent.
Miners Anglo American, Antofagasta and Glencore fell around 2 percent each.
Rolls Royce Holdings shares advanced 2.7 percent on a Bloomberg report that the jet engine manufacturer plans to eliminate about 4,000 jobs as part of efforts to simplify its business and boost profit margins.
Renault rose about 1 percent in Paris. The Financial Times reported that Carlos Ghosn is likely to step down as chief executive of the company before his term ends in 2022.
Volkswagen was down about half a percent after German prosecutors imposed a 1 billion euros fine on the automaker in connection with its emissions-cheating scandal.
Bertrandt Group lost about 2 percent after posting disappointing first-half financial results.
Leasing company Grenke slumped almost 6 percent after announcing a capital increase.
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