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European shares fall for a third day, affected by fears of high inflation

Adel 13 April, 2022 1:30 pm Market Update

European shares fell for the third session in a row on Wednesday, April 13, pressured by fears of rising inflation and its potential impact on the upcoming earnings season, which undermined risk appetite.

The pan-European Stoxx6000 index fell 0.2%, retail and technology stocks fell, while the mining sector advanced.

And Tesco, the largest British retailer, fell 4.7% after it warned that its profits are likely to decline this year.

Shares of French luxury goods LVMH rose 1% after strong demand for LV and Dior products gave a boost to first-quarter sales.

The share of the Italian telecom company TIM rose by 2.9% after news of the interest of the French telecom group iliad to make a bid regarding the local consumer services unit of the Italian company.

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