European shares tumbled on Thursday, with some companies, including Sweden’s H&M, warning of the repercussions of rising inflation and costs on their activities, negatively affecting sentiment before releasing highly anticipated German inflation data.<\/p>\n\n\n\n
The pan-European Stoxx 600 index was down 1.7 percent by 0759 GMT after it failed to follow the path of an increase on Wall Street on Wednesday.<\/p>\n\n\n\n
Shares of H&M fell 4.5 percent after the world’s second-largest clothing retailer posted a lower-than-expected profit on higher production costs, slowing consumer spending and its exit from Russia.<\/p>\n\n\n\n
Shares in Inditex, owner of the Zara brand, fell 2.2 percent. The broader Stoxx index of retail stocks fell 4.3 percent.<\/p>\n\n\n\n
Shares in Polish e-commerce Allegro plunged 6.8 percent after the company cut its full-year profit forecast for the second time this year and warned that rising inflation could dampen demand.<\/p>\n\n\n\n
Next, shares fell 10 percent after the clothing retailer cut its profit and sales forecast.<\/p>\n\n\n\n
Shares in German kitchenware maker Rational jumped 10.8 percent after the company raised its sales and profit forecast for 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"
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