European shares inch down ahead of inflation data


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European shares edged lower on Monday, led by declines in energy stocks and miners, while investors awaited key inflation reading in the euro zone which will likely show prices hitting new record highs in October.

The STOXX 600 index (.STOXX) slipped 0.1% after closing higher on Friday, with the energy index (.SXEP) down 1.2% and miners (.SXPP) shedding 0.7% by 0813 GMT.

Both prices of oil and industrial metals took a beating after China posted weaker-than-expected factory activity data and on concerns its widening COVID-19 curbs will hurt demand.

Meanwhile, euro zone inflation is seen hitting a fresh record of 10.2% in October, in what will likely make for yet another uncomfortable reading for the European Central Bank, which is targeting a 2% price growth.

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