European stocks drift lower
Tuesday, 3 June 2014
Europe's markets slid on Tuesday but losses were capped as weaker-than-expected eurozone inflation data cemented expectations that the European Central Bank would implement monetary easing later this week, dealers said.
London's FTSE 100 index of top companies reversed 0.33 percent to stand at 6,841.66 points in midday trade.
Frankfurt's DAX 30 shed 0.26 percent to 9,923.66 and the Paris CAC 40 index fell 0.09 percent to 4,512.02 points.
Eurozone inflation slowed sharply to 0.5 percent in May, down from a record 0.7 percent in April, official data showed Tuesday.
The level is the same as in March, which was the lowest since the worst months of the financial crisis in 2008 and 2009.
Inflation in the 18-nation eurozone has fallen steadily in the past year, reflecting weak demand, stoking hopes of a rate cut on Thursday, according to AFP.