European shares slip as investors parse inflation data

Wall Street’s main indexes fell on Tuesday with caution prevailing ahead of the Federal Reserve’s interest-rate decision. Photograh: Michael M. Santiago/Getty Images)

The benchmark Stoxx index hit a volatile patch in April and is trading nearly 14 per cent away from its record high. It logged its first monthly decline in six, knocked down by record-high interest rates, Middle East tensions and uncertainty about the ECB monetary policy outlook. The index started the day brightly, lifting to its latest record high as it benefited from strong earnings updates from the likes of. It spent most of the day with firm gains but slumped towards the end of trading as weaker sentiment in the US acted as a drag. London’s top index finished 2.9 points, or 0.04 per cent, lower to end the day at 8,144.13.

The group, which owns restaurants including Brewers Fayre and Beefeater, has said it plans to slash its chain of branded restaurants by more than 200 in favour of building more hotel rooms. Investors welcomed the news, with shares lifting 120p to 3,167p.shares were also higher despite chief executive Noel Quinn announcing his plans to retire from the bank after five years.

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