European stocks retreat ahead of key inflation data; politics in spotlight

Investing.com - European stock markets drifted lower Tuesday, with investors awaiting the latest regional inflation data for clues towards the timing of future European Central Bank interest rate cuts.The eurozone is set to release June inflation data later in the session, with economists expecting a slight slowdown in both the headline and underlying measures after an uptick in May.cut interest rates in June, starting its march lower before the U.S.

But even this second cut was not urgent, he said, and the ECB could wait until its next projections are due out in September.Politics will also be in the spotlight this week, after the far-right National Rally won the first round of the French parliamentary elections on Sunday. The U.K. also goes to the polls on Thursday, with expectations of a landslide win for the opposition Labour Party running high.

Like-for-like sales growth, excluding fuel, slowed to 2.7% in the 16 weeks to 22 June, from 4.8% in the previous quarter.However, the group, which will provide catering for the Paris Olympic Games and the Paralympics this summer, confirmed its 2024 outlook.Both benchmarks climbed to their highest levels since the end of April during the previous session.

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