Stock indices in Europe fall 2-3% due to statistical data on euro area

Stock exchange indices in Europe on March 4 fell by 2-3% on statistics on retail sales in the eurozone, Report informs referring to the auction data.

The British FTSE 100 fell by 2.88% to 7,030.4 points, the French CAC 40 - by 3.13%, to 6,178.99 points, the German DAX - by 2.88%, to 13,304.52 points.

European investors evaluate the data on the volume of retail sales in the euro area. Thus, the indicator in January increased by 0.2% compared to December. Analysts had expected growth of 1.3%.

Pessimism in the markets is also fueled by rising oil and gas prices against the backdrop of EU and US sanctions imposed against Russia, following the decision of Russian President Vladimir Putin to launch a military operation to "demilitarize" Ukraine.

On March 3, the price of Brent crude oil exceeded $119 per barrel, for the first time since February 13, 2013, WTI has overcome $115 per barrel – the highest level since 2008. The price of gas in Europe also jumped to a record high of $2,279 per 1,000 cubic meters. High energy prices may lead to accelerated inflation.