off-the-wire

European shares and bonds inch lower after inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 2 (Reuters) - European shares and bond prices edged down slightly on Thursday after data showed euro zone inflation fell less than expected in February but underlying price growth surged, reinforcing the case for the European Central Bank to keep raising rates.


Germany's 10-year bond yield edged up a whisker after the data, last trading up 4.5 bps at 2.76%, having hit 2.77%, its highest since July 2011 in early trading.


Bond yields move inversely to prices.


The STOXX 600 share benchmark extended its losses, last down 0.55% on the day, having been 0.3% lower before the data. The euro was little changed, down 0.4% against the dollar. Inflation data earlier in the week from major economies including France and Germany was higher than expected, giving an indication of Thursday's euro zone data.
(Reporting by Alun John; editing by Dhara Ranasinghe)

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