European shares log weekly losses on inflation worries; Volkswagen jumps
· Business · Economic Times
European markets wrapped up the week with a dip, influenced by ongoing Middle East tensions and persistent inflation apprehensions. The benchmark STOXX 600 ticked up 0.1% to finish at 649.88 points on Friday, capping a volatile week with an overall decline of 0.8%. A positive turn from Volkswagen shares provided some needed support after the automaker agreed on a major turnaround plan. A resilient U.S. non-farm payrolls report also shaped Friday's sentiment, signalling ongoing stability in the U.S. labor market and reinforcing expectations that the Federal Reserve could raise interest rates later this month. Investors are now keenly awaiting next week's U.S. consumer inflation print to gauge potential shifts in the Federal Reserve's interest rate stance.
Why it matters
Escalating Middle East tensions and sticky inflation are adding pressure to global equities as European economies grapple with sluggish growth and rising energy costs.
Read the original report — Economic Times
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