European shares slip as Brent breaches $100
European shares slip as Brent breaches $100
By Sudeshna Ghoshal Wed, September 9, 2026 at 8:53 AM UTC
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By Sudeshna Ghoshal
Sept 9 (Reuters) - European shares declined on Wednesday ahead of U.S. inflation data, with Brent crude surging past the key $100-per-barrel level as intensifying tensions in the Middle East fanned inflation worries and curbed risk appetite.
The pan-European STOXX 600 was down 0.7% at 645.34 points, as of 0835 GMT. Germany's DAX edged 0.7% lower, London's FTSE lost 0.3%, while France's CAC 40 slipped 0.9%.
Helsinki's blue chips were a bright spot, firming 1.6% to hit their highest in nearly three months.
Fortum led gains on the STOXX 600, climbing 9.6% after the Finnish energy group signed a long-term power purchase agreement with Google. The tech giant said it would invest at least €13 billion ($15.1 billion) in AI infrastructure in Finland over the two years.
The Middle East conflict escalated after Iranian-backed Houthi forces in Yemen launched strikes on several Saudi cities, drawing a key U.S. ally further into the war.
The latest attacks threaten to deepen disruptions to Middle East oil supplies, already strained by strikes on regional energy infrastructure and key shipping lanes.
Energy shares gained 0.6% as Brent crude prices hit above $100 per barrel, breaching the symbolic barrier for the first time since July 24. [O/R]
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"Risk appetite remains weak as rising oil prices occupy the headlines – and investors’ minds," Ipek Ozkardeskaya, senior analyst at Swissquote, said in a note.
ECB DECISION, GERMAN INFLATION DATA AWAITED
Europe's heavy dependence on imported energy leaves the region vulnerable to rising oil prices, which have rekindled inflation concerns and reinforced expectations that central banks may need to keep monetary policy restrictive for longer.
Traders widely expect the ECB to raise rates on Thursday, LSEG-compiled data showed, ahead of potentially market-moving U.S. inflation data later this week.
German consumer price data, due on Thursday, will be closely watched for fresh clues on the health of Europe's largest economy.
Among individual movers, shares of Auto1 Group SE shed 3% after Christian Wallentin stepped down as CFO of the German-based online platform for buying and selling used cars.
Zara owner Inditex fell 2.9% after the Spanish fast-fashion retailer reported weaker than expected second-quarter profit.
(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)
Source: “AOL Money”
