European stocks close lower as inflation fears weigh; Sartorius shares down over 6%
European stock markets closed lower on Friday as economic data showed euro zone inflation jumped to a 13-year high.
The pan-European Stoxx 600 closed down by 0.4%, recouping some of its earlier losses having been down as much as 1.7% at the start of trading. Mining stocks slipped 1.3% to lead losses while travel and leisure shares jumped 3%.
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The European blue chip index closed September down 3.4%, ending a seven-month winning streak.
Euro zone inflation in September rose 3.4% on an annual basis, official data showed Friday, the highest reading since September 2008 and up from 3% in August.
Soaring energy costs accounted for much of the surge. However, shipping and production bottlenecks also began to bite, leading durable goods price 2.3% higher than in August.
Reference: CNBC
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