Europe close: Stocks end mixed despite in-line CPI data Stateside

European shares finished on a mixed note on Wednesday after a weak session in Asia as investors worried about the possible imposition of tariffs by the new US administration.

An in-line reading on US consumer prices nonetheless served to steady investors' frazzled nerves.

"The rise in yields continues to pressure European stocks, but the FTSE 100’s losses pale in comparison to continental Europe," said IG chief market analyst Chris Beauchamp.

"Here, the yield trade combines with political worries about the German election, plus deep concern that incoming president Trump will impose tariffs on European companies. The CAC40 is heading back to the lows of August but the Dax is losing ground rapidly too.”

The pan-regional Stoxx 600 index was down 0.13% at 501.59, alongside a 0.16% dip for the German Dax to 19,003.11, although Milan's FSTE Mib managed to put on 0.30% to 33,707.52 .

Government bond yields had begun the session higher, but figures showing that the annual rate of increase in US CPI picked up from an annual pace of 2.4% in September to 2.6% in October helped to steady Bunds.

Euro/dollar slipped 0.56% to 1.0564.

In equity news, shares in Just Eat Takeaway surged 16% as the online fast-food delivery platform sold its Grubhub unit to Wonder in a deal valued at $650m.

Smiths Group surged 10% after raising growth and margin guidance and beefing up its share buyback programme following an "outstanding" first quarter.

Specialist engineering group Dowlais was up 7% after saying year-to-date trading was in line with expectations and that its full-year outlook remained unchanged.