Luxury, Mining Stocks Weigh on Europe Ahead of U.S. Inflation Data

The pan-European STOXX 600 index was down 0.2% after a partial recovery on Monday from last week’s slump.

Luxury stocks including LVMH, Kering and Richemont fell between 1.6% and 2.0%, tracking their Asian peers lower on concerns about the spread of COVID-19 cases in China.

Jewellery maker Pandora rose 3.7% after it said it aims to achieve sales growth between 6.0% and 8.0% over the coming years.

Mining stocks dragged UK’s commodity-heavy FTSE 100 0.3% lower, even as data showed British employers added a record 241,000 staff to their payrolls last month.

Danish brewer Carlsberg fell 2.6% after a double downgrade to “sell” by Berenberg.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)