(Reuters) – Europe’s benchmark index slipped on Thursday, after a three-day run, as optimism around a peak in policy tightening and eventual rate cuts stemming from softening inflation across major economies took a backseat.
The pan-European STOXX 600 fell 0.2% lower by 0810 GMT after gaining 2.5% over the past three days and scaling a more than one-month high on Wednesday.
Through the course of the week, inflation data out of the United States and the UK reinforced hopes that their central banks were done raising rates. Focus now shifted to the euro zone’s inflation print on Friday.
Embracer jumped 14.2% after the Swedish games developer posted a bigger-than-expected second-quarter operating profit, while Siemens gained 5% as the trains-to-industrial software maker reported better-than-estimated fourth-quarter industrial profit.
HelloFresh tanked 20.6% to the bottom of the STOXX 600 after the German meal-kit maker cut its annual core profit outlook and narrowed down its revenue growth guidance.
(Reporting by Ankika Biswas in Bengaluru; Editing by Sohini Goswami)
