European stocks decline with renewed concerns about US interest rates

European stocks fell on Friday after US inflation data fueled fears that interest rates will remain high for longer, while weak inflation data from China exacerbated concerns about the global economy.

The European STOXX 600 index fell 0.2 percent by 0704 GMT. Shares of mining companies and oil and gas companies were among the few to record gains as commodity prices, including oil and copper, rose.

Major indices on Wall Street closed lower on Thursday after data showed consumer prices rose more than expected in September, boosting the chances of the Federal Reserve raising interest rates again this year.

Asian stocks also fell, affected by data from China indicating continued deflationary pressures in the world’s second-largest economy.

Investors are awaiting inflation data from a number of euro zone economies and US bank business results later on Friday.

Among individual stocks, Sartorius AG fell 7.2 percent after the French-German laboratory supplies manufacturer lowered its full-year sales forecast and adjusted profit margin on the back of lower trading volume expectations and the impact of product mix.

Swiss Re shares rose 1 percent after Berenberg Bank raised the rating on the reinsurer’s shares to “buy” from “hold.”