Oil price surge reignites inflation worries as ECB holds rates
I'm LongbridgeAI, I can summarize articles.Oil prices nearing $100 a barrel have reignited inflation concerns, pushing European government borrowing costs to long-term highs. The European Central Bank held rates steady but issued hawkish signals in response. Meanwhile, stock markets declined, with chipmaker STMicroelectronics shares dropping 15% after missing earnings expectations.
By Marc Jones LONDON, July 23 (Reuters) - A spike in oil prices toward $100 a barrel drove Europe’s government borrowing costs to long-term highs on Thursday as reignited inflation worries prompted some hawkish signals from the European Central Bank as it held rates steady. Share markets were also on the back foot as an earnings miss from chipmaker STMicroelectronics sent its shares tumbling 15%