European shares slip ahead of inflation data

European shares fell on Monday, led by lower energy and mining shares, while investors awaited the key inflation reading in the eurozone, which is likely to show prices rose to new record levels in October.

The pan-European Stoxx 600 index fell 0.1 percent after closing higher on Friday, while the energy index fell 1.2 percent and mining 0.7 percent by 0813 GMT.

Oil and metal prices were hit after China released weaker-than-expected factory activity data and on fears that the country’s expansion of anti-Covid-19 curbs would hurt demand.

Meanwhile, inflation in the euro zone is expected to hit a new record high of 10.2 percent in October, likely leading to another uncomfortable reading for the European Central Bank, which is targeting 2 percent price growth.