European stocks slipped on Thursday as automakers and travel stocks fell after a recent run of gains, while investors counted on the European Central Bank to maintain an accommodative policy stance at a meeting later in the day. The pan-European STOXX 600 index was down about 0.1 per cent, but held near record levels after a four-day rally. Automakers fell for the third straight day, while travel and leisure stocks dropped 1.1 per cent following recent gains for the sectors on optimism about economic re-openings. Euro zone stocks fell 0.2 per cent ahead of the ECB’s policy decision and its projections for euro zone economic growth and inflation. The meeting comes as recent data from across the globe point to building inflationary pressures, particularly in commodities, as economies recover from long COVID-19 lockdowns.

Source: The Irish Times June 10, 2021 09:45 UTC