European stock markets moved lower on Friday after better-than-expected euro-zone inflation data eased pressure on the European Central Bank to cut rates at its meeting next week.
The Stoxx Europe 600 index fell 0.2% to 336.47, trimming its monthly gain to 4.3%.
After the releases, most of the country-specific indexes in Europe declined as the anticipation for more ECB easing measures waned. France’s CAC 40 index lost 0.3% and the U.K.’s FTSE 100 index dropped 0.1%. Germany’s DAX 30 index rose 0.1%.
Eurozone Unemployment Rate remained unchanged in January at 12% for the second runing month, according to data released on Friday by Eurostat. This result is in line with forecasts.
According to preliminary data, Eurozone annual inflation edged up 0.8% in February, following 0.8% growth registered the previous month. Analysts expected slightly less increase of 0.7%. Year-over-year CPI-Core rose 1.0%, up from 0.8%.
German retail sales exceeded expectations in January, growing 2.5% inter-month and 0.9% over the last twelve months.
In UK Nationwide Building Society said home values increased 0.6% in February, a 14th monthly increase, reaching an average 177,846 pounds. From a year earlier, prices were up 9.4%.
A consumer confidence index by GfK NOP Ltd. stayed at -7 from January, the London-based group said today. That matched the median forecast of economists.
Shares of Serco Group PLC led the list of gainers, rallying 8.7%, after the government-services company appointed Aggreko PLC’s Rupert Soames as chief executive from June 1.
Old Mutual PLC advanced 4.7% after the investment firm lifted its full-year dividend and said adjusted operating pretax profit rose last year on a constant currency basis.
On a more downbeat note, shares of Pearson PLC slumped 6.1% after the publisher said full-year operating profit declined due to weakness in its U.S. education business.
