European Shares Edge Lower On Fed Rate Hike Concerns
(RTTNews) - European shares dipped from record highs on Friday amid uncertainty over the outlook for the AI trade and growing expectations for a Federal Reserve rate hike in December.
Brent crude futures traded above $96 a barrel, rekindling inflation concerns.
German wholesale prices increased at the fastest pace in more than three years in October due to elevated energy prices, data released by Destatis showed.
Wholesale prices climbed 8.8 percent on a yearly basis in October, marking the strongest rise since February 2023. This followed September's 8.7 percent increase.
The pan-European STOXX 600 slipped 0.2 percent to 662.55 after finishing marginally higher on Thursday.
The German DAX dropped 0.3 percent and France's CAC 40 eased 0.2 percent while the U.K.'s FTSE 100 was marginally higher.
In corporate news, Compagnie Financiere Richemont shares plummeted 7.5 percent. The Swiss luxury powerhouse said Q2 revenue growth slowed to 13 percent at constant rates from 20 percent in Q1.
Ams OSRAM plunged nearly 8 percent. The Austrian-German semiconductor and lighting group forecast fourth-quarter revenue and core profit below analyst expectations.
U.K. property group Land Securities rose about 1 percent after posting higher fiscal first-half attributable profit and revenue.
British insurer Aviva rallied 2.3 percent after a robust Q3 2026 trading update.
German real estate investment company Deutsche EuroShop dropped 1.2 percent as it reported modest growth in revenue and earnings before interest and taxes (EBIT) in the first nine months of the year.
Italy's top insurer Generali declined 1.3 percent after announcing a €1.5 billion hit from natural catastrophes in its nine-month results.
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