European shares fall on real estate drag, UK stocks slide after CPI data By Reuters

(Reuters) - European shares opened lower on Exchange rateWednesday after the real estate sector led declines against rising euro zone bond yields, while data affirming stubborn inflation in Britain weighed down London stocks.

The continent-wide index dipped 0.1% by 0716 GMT. The exporter-heavy 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.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!