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(Reuters) -European stocks tumbled from all-time highs on Tuesday, with the travel, retail and technology sectors among the top losers after global sentiment turned risk-averse on worries about rising inflation in the United States.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 6, 2021. REUTERS/Staff
The pan-European STOXX 600 index fell 2.0%, its biggest percentage decline since late December. The main bourses in Frankfurt, Paris and London all lost more than 2%.
Wall Street’s main indexes slid for the second straight day, with the benchmark S&P 500 hitting a one-month low on fears that rising inflation could push the U.S. Federal Reserve to tighten monetary policy faster than expected. [.N]
Inflation nerves drive European stocks worst sell-off in three weeks
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IAG boosts liquidity with €800m convertible bond
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Eurostoxx 50 : Inflation nerves drive European stocks worst sell-off in 3 weeks
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British Airways-owner IAG boosts liquidity with 800 million euro convertible bond
British Airways-owner IAG boosts liquidity with 800 million euro convertible bond
LONDON (Reuters) -British Airways-owner IAG said it would launch a convertible bond with an initial issue size of 800 million euros, the group’s latest move to strengthen its balance sheet as travel continues at very low levels during the pandemic.
IAG, which also owns Aer Lingus, Iberia and Vueling, has a weekly cash burn rate of 175 million euros ($213 million) while most of its fleet is grounded due to restrictions, meaning its focus over the past year has been on raising funds.