Euro zone government bond yields climbed sharply on Monday, with Germany's 10-year yield hitting a two-week top, following stronger-than-expected Spanish inflation data. Inflation in Spain, when adjusted to compare across the euro zone, was 5.8% year-on-year in January, up from 5.5% in December, data showed on Monday.
* STOXX 600 off 0.2% * Technology stocks lead losses. * Philips rises on job cut plans. * Spain's consumer prices rise in January. By Ankika Biswas and Amruta Khandekar. European shares slipped on Monday as hotter-than-expected inflation data from Spain added to market jitters as investors brace for a slew of interest rate hikes from prominent central banks later in the week.
The dollar languished near an eight-month low on Monday ahead of a slew of central bank meetings this week, while higher Spanish inflation data supported the euro ahead of euro area readings on Wednesday. The U.S. dollar index, which measures the currency against a basket of its peers including the euro, was flat at 101.88, having hit an eight-month low of 101.50 last week.
Euro zone government bond yields rose sharply on Monday in the wake of stronger-than-expected Spanish inflation data, and as investors looked towards the European Central Bank's interest rate decision on Thursday. Inflation in Spain, when adjusted to compare across the euro zone, was 5.8% year-on-year in January, up from 5.5% in December, data showed on Monday.
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