Shoppers pass along the main high street in Whitstable, UK.
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LONDON — European stocks closed lower Wednesday, losing the positive momentum seen during the previous trading session.
The Stoxx 600 index ended the session down 0.18%, with major bourses and sectors diverging. Tech stocks led losses, down 1.15%, while mining stocks added 0.65%.
The U.K.’s FTSE 100 ticked up in afternoon trade, rising 0.2% and recovering from earlier losses after the country’s inflation print came in in line with expectations.
Inflation rose by an annual 2.0% in May, hitting the Bank of England’s target ahead of its policy rate decision on Thursday. The Bank is widely expected to hold rates steady at 5.25%, with the majority of economists polled by Reuters forecasting a cut in August.
Sterling rose slightly after the release, and was trading at $1.2722 at 4:35 p.m. London time.
In stock moves, Games Workshop added 9% after the British firm forecast higher pre-tax profit of £200 million ($254.4 million) in a full-year trading update.
Data from the euro zone on Tuesday showed inflation in the single-currency euro area rose at an annual rate of 2.6% in May, up from 2.4% in April, the EU’s statistical office Eurostat confirmed in a final reading. Annual inflation within the wider EU was 2.7%, up from 2.6% the previous month.
