European shares slip ahead of U.S. inflation data -Breaking
(Reuters] – European stocks lost for the fourth session in a row on Friday ahead of U.S. Inflation data, which could increase speculation over next week’s Federal Reserve decision.
All segments traded in red, but banks were the biggest in the pan European index which had lost 0.7% as of 07/04 GMT. The week ended about 2% below its original level.
According to the U.S. Labor Department, the Consumer Price Index grew to 0.7% in May from 0.3% in April. However, without volatile foods and energy products it can be seen falling by a mere 0.1 percent to 0.5%.
Data is expected to be available at 1230 GMT Friday. There are growing expectations that the U.S. Fed may increase its rate of interest beyond the 50-bps increases it has planned for next week or July.
It comes just a day after equity markets were hit by the European Central Bank’s hint that next month would see its first rate increase since 2011. And a possible larger one in September.
GSK surged 2.4% in individual stock after GSK reported that the vaccine for respiratory syndrome virus had been approved by the company. This was after a trial which involved older people.