Europe open: Shares press on as investors eye UK inflation rise
European shares were still at record levels at the open on Wednesday, although trade was muted as investors digested a rise in UK inflation.
The pan-European Stoxx 600 index was up 0.10% in early deals. Britain’s FTSE 100 was down 0.22% as consumer price index inflation came in at an annual 4.2% in October, its highest for almost a decade, with energy and second-hand car costs soaring.
Investors will monitoring inflation data from the euro zone later in search of clues as to how the European Central Bank will move in the coming months.
Asia-Pacific markets declined overnight as Japan’s export growth slowed to an eight-month low. US stock futures were little changed in early premarket trading on Wednesday as investors geared up for more earnings reports from retailers Target and Lowe’s.
In equity news, Siemens Healthineers gained 4.7% in early trade after raising total synergy targets for its recent acquisition of US rival Varian.
Polish parcel locker company InPost plunged more than 11% after cutting its full-year guidance amid slower-than-expected growth in the e-commerce market.
Shares in thermal energy management and pumping firm Spirax‐Sarco Engineering fell more than 5% as the company said it still expected to report record annual profits, though it also warned that supply-chain issues were hurting margins.
Renewable energy supplier SSE was lower despite posting a rise in profits and announcing a 65% hike in its capital expenditure programme.
Swedish online gambling giant Evolution Gaming plunged 7.67% on allegations that it had been offering its services illegally in certain markets and operating live dealer platforms in countries that are currently under US sanctions.