European Shares Extend Losses As Banks Tumble On Oil-driven Inflation Fears
(RTTNews) - European stocks traded lower on Tuesday as surging oil prices and elevated bond yields weighed on the banking sector.
As inflation worries mount, investors awaited cues from this week's Fed, Bank of England and Bank of Japan policy meetings.
The British pound extended losses from the previous session after the release of weak jobs report, with job vacancies falling to a four-year low and wage growth easing over the summer, according to data from the Office for National Statistics.
The pan-European STOXX 600 dropped 0.7 percent to 631.45 after falling half a percent on Monday.
The German DAX, France's CAC 40 and the U.K.'s FTSE 100 all were down around 0.8 percent.
Banks were among the biggest drags due to oil -driven inflation worries stemming from escalating Middle East tensions.
Deutsche Bank tumbled 3.7 percent, BNP Paribas fell 1.5 percent and Barclays declined 1.8 percent.
City Of London Investment Group shares advanced 1.7 percent after the British asset manager grew funds under management, fees and earnings in 2026.
Kier Group added 1.5 percent. The infrastructure and construction group delivered strong FY26 results and upgraded its FY27 guidance.
German engine maker Deutz slumped 5 percent after completing a capital increase.
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