Smurfit Kappa lifts Iseq on subdued day for European stocks

European shares ended lower on Wednesday, pressured by losses in real estate and technology, while UK stocks were buoyed by metal miners as investors digested its inflation data.

Investors grappled with a slower-than-anticipated decline in services price inflation in May, which the Bank of England believes offers a clearer view of medium-term inflation risks, although headline inflation fell to its 2 per cent target. Basic resources stocks added 0.6 per cent, tracking a rebound in metal prices and leading sectoral gains.

The European Commission said France and six other countries should be disciplined for running budget deficits in excess of European Union limits, with deadlines for reducing the gaps to be set in November. The French benchmark Cac 40 closed nearly 0.8 per cent lower as French stocks continued to suffer in the wake of French president Emmanuel Macron’s decision to call a snap election.

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