- Major earnings in Europe on Thursday came from Credit Suisse, Unilever and Siemens, among others.
- The U.S. consumer price index for January rose 7.5% year-on-year, the highest print since 1982.
- Delivery Hero plunged more than 30% after announcing weak earnings guidance for 2022.
LONDON — European stocks pulled back Thursday after a red hot inflation print out of the U.S. cemented the likelihood of significant interest rate hikes this year.
The pan-European Stoxx 600 closed down by 0.2%, with most sectors and major bourses dipping into the red. Tech stocks, which are typically sensitive to concerns around higher interest rates, were among the worst performers, falling 1.1%.
Global investors were reacting to the latest consumer price index reading from the U.S., which put annual inflation at 7.5% in January, above expectations and the highest print since 1982. U.S. stocks sank following the data release.
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Siemens posted a 52% surge in orders that led the German technology group to beat industrial profit expectations for the quarter. Shares jumped almost 5%.
Toward the top of the Stoxx 600, British publishing group Informa climbed over 7% as investors reacted positively to its latest trading update.
Credit Suisse posted a full-year net loss of 1.57 billion Swiss francs ($1.7 billion), well below expectations of a 377.95 million Swiss franc loss, according to Refinitiv. The bank said it took "major litigation provisions" of 1.1 billion Swiss francs in 2021. The Swiss lender's shares fell almost 7%.
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- CNBC's Ryan Browne contributed to this report.