I retreated European stocks On Wednesday, commodity prices rose, adding to inflation concerns, at a time when sentiment was negatively affected by sanctions imposed on Russia following its invasion of Ukraine.
The pan-European Stoxx 600 index fell 0.5%, declining for the third consecutive session.
The European oil and gas index jumped 1.6 percent, supported by a 7 percent increase in crude prices, and Brent crude exceeded $110 a barrel for the first time since 2014, according to Archyde.com.
The mining sector index rose 1.5 percent, with the increase in the prices of metals, including nickel and aluminum, due to growing fears of supply disruptions.
The auto sector was the most declining, with its index down 3.3%.
The euro zone banks index fell 2.2% to its lowest level in ten months, as bets that the European Central Bank would raise interest rates waned.
As for individual stocks, Ericsson’s stock fell 11.5% following the large Swedish telecom equipment company said it had been told that the information it provided to the US State Department regarding an internal investigation related to its activities in Iraq was insufficient.
