DAX PERFORMANCE-INDEX (^GDAXI)

European Stocks Largely Lower; Joules Group Slumps

European stock markets traded largely lower Friday as investors fretted about soaring inflation, tightening monetary policy, and slowing growth. German factory gate prices rose 5.3% on the month, up 37.2% on the year, the biggest single gain since the Federal Republic started compiling its data in 1949. Producer prices typically feed through into consumer prices with a certain time lag, and this data, from Europe’s largest economy and biggest growth driver, will add pressure on the European Central Bank to add another half-point rate hike in September, to July’s increase.