European shares fell at the open on Wednesday after higher-than-expected US inflation data boosted expectations of a bigger interest rate hike at the Federal Reserve next week. Still, a rally in retail stocks led by Spain’s Inditex limited losses.<\/p>\n\n\n\n
The pan-European STOXX 600 index was down 0.3 percent by 0714 GMT, and the technology sector index was down 0.4 percent. The banking sector index rose 0.1 percent.<\/p>\n\n\n\n
Tuesday’s data revealed that US consumer prices rose more than expected in August, and the Federal Reserve is expected to raise interest rates by 75 basis points for a third time next Wednesday.<\/p>\n\n\n\n
The retail index jumped 2.3 percent, with the sector gaining the most, after shares in Inditex, the Spanish owner of the Zara brand, rose 5 percent. The Spanish index rose 0.3 percent and was among the few bullish indices in Europe.<\/p>\n\n\n\n
Inditex reported a 24.5 percent jump in six-month sales and year-on-year earnings to end July on a strong note, before clothing demand began to weaken last month due to rising inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"
European shares fell at the open on Wednesday after higher-than-expected US inflation data boosted expectations of a bigger interest rate hike at the Federal Reserve next week. Still, a rally in retail stocks led by Spain’s Inditex limited losses. The pan-European STOXX 600 index was down 0.3 percent by 0714 GMT, and the technology sector …<\/p>\n","protected":false},"author":9,"featured_media":71676,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7211,6877,6928,6882],"class_list":["post-72147","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=72147"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72147\/revisions"}],"predecessor-version":[{"id":72148,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72147\/revisions\/72148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71676"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=72147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=72147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=72147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}