European stocks retreat from all-time highs

07.06.2021 - Petr Mazaylo
European stocks retreat from all-time highs

Shares in the Euro zone eased from all-time highs on Monday trade, with the commodity markets leading the plunge, as investors digested weaker-than-expected Chinese trade data and inflation concerns.

Miners dropped over 1% as copper prices declined following the release of Chinese exports data. The weaker-than-expected figures triggered concerns of weakening demand for the red metal.

Oil and gas stocks also fell over 1% as crude prices pulled back as investors await the talks between Iran and world powers over a nuclear deal that is anticipated to bolster crude supplies.

The broad STOXX 600 index declined 0.3% after setting its best record on Friday as global investors trade cautiously as they wait for the U.S. inflation data due later this week.

Meanwhile, French vouchers and cards provider Edenred advanced 1.9% after Deutsche Bank leveled up the stock to “buy”.

 

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