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Europe close: Stocks end mixed after U.S. CPI data
(Sharecast News) - European equity markets finished on a mixed note on Thursday, dragged down by a higher-than-expected reading on U.S. consumer prices.
"One month of higher inflation could be dismissed by investors, but two months starts to look dangerously like a trend," said IG chief market analyst Chris Beauchamp.
"While Fed speakers this week have struck a cautious tone, yesterday's minutes underscored the willingness of the FOMC to move again if inflation did start to revive. Today's figures will have investors fearing that is exactly what is coming to pass."
By the end of trading, the Europe Stoxx 600 Index had edged up 0.10% to 453.63.
However, Germany's Dax slipped 0.23% to 15,425.03, while the French Cac-40 was down by 0.37% to 7,104.53.
According to the U.S. Department of Labor, the annual rate of increase in the country's Consumer Price Index was unchanged in September at 3.7% (consensus: 3.6%).
Ten-year Bund prices and the euro were both lower while Brent crude oil futures were ahead by 0.6% to $86.41 a barrel on the ICE.
In other economic news, manufacturing production and industrial output growth figures in the UK missed expectations on Thursday, however UK GDP rebounded, growing 0.2% in August - in line with expectations.
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