European Stocks Ease From All-Time High After US Inflation Data

European shares were subdued, weighed down by the construction sector, after Sika AG dropped 9.5% on weaker-than-expected results. The latest US inflation reading failed to change the outlook for Federal Reserve interest rates.

The Stoxx Europe 600 Index was down about 0.1% by the close. Energy shares outperformed, while telecom and auto stocks were among the biggest laggards.