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The pan-European STOXX 600 index slipped 0.02% in early trading, with travel & leisure falling the most. However, gains in banking and commodity-linked stocks such as energy and mining helped limit losses.
Brent crude jumped over 1.5% to $83.59 a barrel as an energy crisis gripping major economies showed no sign of easing, while Dalian coking coal scaled a contract high as a recent flooding in China’s top coal-producing Shanxi province intensified supply fears. [O/R] [IRONORE/]
Among stocks, British online fashion retailer ASOS (LON:ASOS) tumbled 14.2% after it warned that higher logistics costs and supply chain disruption could force 2022 profits to drop by more than 40% and said Chief Executive Nick Beighton was stepping down.
German real estate investor Adler Group slipped 1.3% after it agreed to sell residential and commercial property worth 1.49 billion euros ($1.73 billion) to rival LEG Immobilien.
