BRUSSELS, July 14 — European shares slipped from record highs today as global investor mood soured on signs of increasing inflationary pressure, while travel stocks dropped on worries over the Delta variant’s spread in the continent.
UK’s FTSE 100 dropped 0.4 per cent on a stronger pound after data showed British inflation jumped to 2.5 per cent in June, further above the Bank of England’s target and hitting its highest since August 2018. Investors were already nervous after data yesterday showed US inflation ran hotter than expected in June, leading many traders to price in faster interest rate hikes.
Along with euro zone bond yields, the bloc’s banks rallied after sharp falls in the previous session.
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