Europe open: Shares lower as traders eye US CPI

European shares opened lower on Thursday as investors nervously eyed the release of US inflation data later in the day for a signal on the pace of future interest rate hikes by the Federal Reserve.

The pan-European Stoxx 600 index was down 0.34% in early deals with all major bourses in the red. Traders are also watching the results of US mid-term elections, with control of the Senate still in the balance and the predicted “red wave” of Republican victories in the House of Representatives failing to materialise.

On the economic front, forecasts are for the US CPI headline rate to fall to 8.0%, its lowest in nine months.

In another dump day for corporate earnings and updates, shares in British gas parent Centrica rose as it lifted guidance and announced a share buyback.

German takeaway food company Delivery Hero surged as it would achieve an adjusted core profit margin on gross merchandise value (GMV) of more than 0.5% in 2023.

Bookseller and stationer WH Smith gained after swinging to a profit as travel recovered from the Covid pandemic.

Auto Trader fell as operating profits fell slightly and the company said its new Autorama acquisition would make a loss this year due to supply constraints.

Reporting by Frank Prenesti for Sharecast.com