Europe open: Shares hit record highs before slipping back

European shares hit record highs in early trade on Wednesday before slipping slightly into the red.

The pan-regional Stoxx 600 index was down 0.04% as investors awaited US CPI numbers later in the day.

In equity news, UK cybersecurity company Avast rose to the top of the index, up more than 3% after US rival NortonLifeLock agreed to buy the company for up to $8.6bn.

Dutch bank ABN Amro gained 3% after it said it would resume dividend payments as an economic recovery helped a stronger-than-expected bounce in net profit.

Wind turbine maker Vestas fell 1.94% as it cut its 2021 outlook after missing second-quarter operating profit forecasts on supply chain disruptions and higher costs.

British Life insurer Phoenix fell 2.26% as the company said it was on track to hit the upper end of its annual cash generation target range, but swung to a pre-tax interim loss.