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REFILE-Inflation nerves hit European stocks; Evolution Gaming tumbles

05/11/2021 03:02
REFILE-Inflation nerves hit European stocks; Evolution Gaming tumbles

Corrects to Tuesday in first paragraph

- European stocks retreated from all-time highs on Tuesday, with shares of technology, travel and mining companies among the top losers after worries about rising U.S. inflation knocked back U.S. indexes.

The pan-European STOXX 600 index .STOXX fell 1.6% after it hit a record closing high on Monday. The main bourses in Frankfurt .DAX, Paris .FCHI and London .FTSE all lost more than 1.5%.

Global sentiment soured after inflation jitters drove investors away from Wall Street's market-leading growth stocks on Monday ahead of the latest reading on U.S. consumer prices, which many fear could prompt the Federal Reserve to rethink its monetary policy stance.

European tech shares .SX8P tumbled 2.2% to their lowest level since late March, while miners .SXPP handed back some of their strong gains in the previous session.

Travel and leisure stocks .SXTP slumped 3.7% as Sweden's Evolution Gaming Group EVOG.ST tumbled 9.6% after the bookrunner announced the pricing of block trades. nFWN2MY0E0


(Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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