AgenciesThe continent-wide STOXX 600 index dipped 0.1% by 0716 GMT. The exporter-heavy FTSE 100 index fell 0.4%, tracking a jump in the pound following the UK inflation data.
British consumer price index defied expectations of slowing and held at 8.7% in May. The data came a day before the Bank of England is forecast to raise interest rates for the 13th time in a row.
The reading also served as a stark reminder that the fight against inflation by major central banks is not over yet, sending Germany's two-year government bond yield, the most sensitive to rate expectations, to its highest since March 10.
Real estate stocks slid 1.3%.
Investors now await U.S. Federal Reserve Chair Jerome Powell's two-day testimony before lawmakers.
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RIL Gets RBI Nod to Retain Extra $2B from LendersReliance Industries, the country’s biggest company by market value, has received the Reserve Bank of India’s (RBI) permission to retain $2 billion over and above the $3 billion it had raised last fiscal in what was the largest syndicated loan facility in years.
2023: A Space Odyssey Indo-US Collab on CardsExpanding bilateral space sector cooperation, including human space flights by India, will figure high on the agenda when Prime Minister Narendra Modi meets US President Joe Biden in Washington, DC on Thursday, said people with knowledge of the matter.
Afcons Begins IPO Talks with BanksShapoorji Pallonji group unit Afcons has started talks with banks for an initial public offering (IPO) of shares as it seeks to monetise assets to help meet payment commitments made in loan covenants involving the company’s financiers, people aware of the stock sale initiatives told ET.
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