European stock markets declined for the second trading session in a row. The main stock indices of Western Europe declined for the second consecutive session of trading yesterday. The composite index of the largest companies in the region, Stoxx Europe 600 by market close fell by 0.64% to 396.35 points.

Biggest European stock markets — what’s going on?

British stock index FTSE 100 was down 0.78%. German DAX was down 0.37% and French CAC 40 was down 0.82%. Spain’s IBEX 35 and Italy’s FTSE MIB fell 0.91% and 1%, respectively.

Investors are concerned about the impact of high oil prices on the dynamics of inflation and the global economy after OPEC+ decision to reduce oil production quotas in November by 2 million b / s, writes Trading Economics.

Traders on Thursday, including analyzing the minutes of the September meeting of the European Central Bank (ECB), which showed that its leaders are concerned about rising inflation and promised to continue to raise rates, even if economic growth is threatened.

German industrial orders fell 2.4 percent in August from the previous month, the German Economy Ministry said.

Analysts on average had expected a decline of 0.7%, Trading Economics data showed. In July, revised data showed a 1.9% increase, rather than a 1.1% decline as previously reported.

Earlier, we reported that U.S. stock futures were declining ahead of labor market data.