European shares lost momentum on Thursday after hitting a series of record highs in the past few sessions, as further evidence of sticky US inflation led to doubts about the timing of interest rate cuts, while weakness in mining stocks added to declines.
Ireland is one of slowest countries in Europe for medical reimbursment, it’s ‘a bit of a travesty for patients’The FTSE 100 closed 0.4 per cent lower, pulling back from the previous day’s nine-month peak, though housing-related stocks outperformed the broader market, led by Vistry shares that hit a more than two-year high. The housebuilder advanced 8.2 per cent after it said it would build more homes this year, encouraged by resilient demand after its 2023 profit beat market expectations.
Shares in Anglo American fell 5.3 per cent, while those of NatWest Group dropped 5.1 per cent as they traded without entitlement for dividends. Embracer agreed to divest selected assets from its subsidiary Saber Interactive, thereby ceasing all operations in Russia. Shares of the Swedish gaming company reversed early gains to drop 11.2 per cent.
Most mega-cap growth and technology stocks inched higher, but artificial intelligence giant Nvidia fell 3.6 per cent.