European stocks traded slightly lower on Wednesday, with global markets focused on upcoming US inflation data.
Pan-European Stoxx 600 the index was down 0.1% in early trade, with the majority of sectors in negative territory.
Shares of Just Eat Takeaway stock jumped 20% shortly after opening on Wednesday after the company said it had reached a deal to sell its US unit Grubhub to Wonder for $650 million. Siemens Energy was also the best performer on the index, its shares rocketing 19.1% on Wednesday morning after the German energy company increased its medium-term financial targets.
ABN Amro shares opened almost 1% lower after the Dutch lender posted a 9% quarterly net profit, compared to the previous year. Share from Allianz they rose 0.5% at the open after the financial services group beat expectations with a 22% rise in third-quarter net profit.
The main focus of investors on Wednesday will be October inflation data from the US, a key factor when it comes to the Federal Reserve’s decision to cut or maintain interest rates.
Economists surveyed by Dow Jones expect the consumer price index to increase 0.2% for the month, which would put the 12-month rate at 2.6%.
Asia-Pacific stock markets traded lower overnight, tracking losses on Wall Street Tuesday, with the tech-heavy Nasdaq and the S&P 500 snapping a five-day winning streak. US stock futures ticked down Tuesday night.
– Hakyung Kim CNBC contributed to this market report.
