European share rally pauses as focus turns to inflation; Kering slips

  • Reuters
  • Stock Market News
European share rally pauses as focus turns to inflation; Kering slips
Credit: © Reuters.

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Feb 17 (Reuters) - European shares retreated from near one-year highs on Wednesday as concerns about a possible rise in inflation tempered optimism around a vaccine-led global economic recovery, while Kering tumbled after sales at its Gucci brand fell more than expected.

Shares of the French conglomerate PRTP.PA , which also owns the Saint Laurent brand, slumped 8.2% as revenue for the whole group fell 8.2% in the fourth quarter. The broader European retail index .SXRP fell 2.9%. pan-European STOXX 600 index .STOXX was down 0.4% by 0804 GMT, with healthcare, telecoms and financial services stocks also leading declines.

London's blue-chip FTSE 100 .FTSE lost 0.4% as data showed British inflation rose a little more than expected in January. .L

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