European shares fall again

European shares finished Monday down 1%, adding to last week’s declines. They had started the session in positive territory, but results from HSBC and Fortis pulled the indexes lower, particularly hitting the financial sector – as well as HSBC and Fortis, BNP Paribas, UBS and Banco Santander all lost value. Investors also reacted to rising inflation as the US saw the biggest increase in prices since early 1981. Consumer inflation there climbed 0.8% in June. Mining stocks fell as metal prices declined because stockpiles are getting bigger, suggesting a slowdown in demand growth.

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