Staff of Reuters 2 minutes Read (Click LIVE/ or type LIVE/ in a news window for a Reuters live blog on U.S., UK, and European financial markets.) Reuters, June 28 – On Monday, European markets hovered slightly below record highs as investors fretted that a rise in inflation could prompt a quick tightening of ultra-easy global monetary policy, while travel stocks fell as COVID-19 cases spiked across Asia. By 0709 GMT, the pan-European STOXX 600 was down 0.1 percent, with travel-related firms TUI, Ryanair Holdings, and IAG leading the way. The benchmark European STOXX 600 index fell from record highs just over a week ago, as global equities markets were roiled by the US Federal Reserve’s unexpectedly hawkish stance. Despite recovering to gain 1.2 percent last week, the index has unable to break beyond its all-time closing high set on June 16. After leading advances last week, banks, industrials, and mining stocks were down between 0.3 and 0.5 percent. Burberry Group shares fell 5.1 percent to the bottom of the STOXX 600 index after Chief Executive Officer Marco Gobbetti announced his resignation. Meanwhile, Salvatore Ferragamo, an Italian luxury business, surged 2.9 percent after announcing Gobbetti as its new CEO. (Bengaluru-based reporter Sagarika Jaisinghani contributed to this report; Shounak Dasgupta edited it.) Continue reading
