Sweden’s economy had a disappointing start to this year, new GDP figures show.
The Swedish economy grew by 0.4% in January-March, down from 0.7% in Q4 2016, and only half as fast as expected.
New inflation figures how that consumer prices across Germany rose at a slower rate this month:
We get the overall German inflation report at 1pm BST. And a low reading will strengthen the European Central Bank’s determination not to end its monetary stimulus programme too soon.
European stock markets have fallen in early trading, putting them on track for their fourth day of losses.
Worries over Greece’s bailout, a possible early Italian general election, and Mario Draghi’s cautious comments about the eurozone recovery are all weighing on shares.
Britain’s FTSE has lost 0.5%, partly thanks to IAG’s 4% slide. Mining stocks and banks are also losing ground:
Connor Campbell of SpreadEx says:
The FTSE was one of the worst performers after the bell, plunging more than half a percent to lurk just above 7500.
A 1% drop from copper – the metal is now at its worst price in a week and a half – weighed on the index’s mining stocks, while the ongoing British Airway’s chaos is hurting its parent IAG, which fell 3.5% as the session got underway. The UK banks were also all in the red, taking their cue from their Italian counterparts, which plunged on early election fears.
This morning’s selloff has wiped around £500m off…