European Shares Slide on Inflation Fears as Oil Prices Soar

European shares declined on Thursday as concerns about inflation persisted due to high oil prices.

The pan-European STOXX 600 index closed at 650.35 points, down 0.12%, marking its seventh consecutive day of losses, the longest since September 2023.

Ipek Ozkardeskaya, senior analyst at Swissquote, said that inflation risks are tilted to the upside due to the ongoing Middle East conflict and subsequent increase in oil prices, which could lead to higher price pressures in upcoming readings.