Luxury, mining stocks weigh on Europe ahead of U.S. inflation data

  • 9/14/2021
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Sept 14 (Reuters) - European stocks slipped in early deals on Tuesday as caution ahead of U.S. inflation data and weakness in luxury and mining shares offset optimism around the region’s economic recovery.The pan-European STOXX 600 index was down 0.2% after a partial recovery on Monday from last week’s slump. Luxury stocks including LVMH, Kering and Richemont fell between 1.6% and 2.0%, tracking their Asian peers lower on concerns about the spread of COVID-19 cases in China.Jewellery maker Pandora rose 3.7% after it said it aims to achieve sales growth between 6.0% and 8.0% over the coming years. Mining stocks dragged UK’s commodity-heavy FTSE 100 0.3% lower, even as data showed British employers added a record 241,000 staff to their payrolls last month. Danish brewer Carlsberg fell 2.6% after a double downgrade to “sell” by Berenberg. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

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