European stocks were subdued on Wednesday, with fresh concerns about inflation and fears about liquidity woes spreading in China’s property sector weighing on markets.
Investors awaited the release of a key U.S. report on consumer prices later in the day to assess the risk of tighter monetary policy.
The pan European Stoxx 600 was marginally lower at 482.27 after declining 0.2 percent on Tuesday.
The German DAX and France’s CAC 40 index both eased about 0.3 percent, while the U.K.’s FTSE 100 was up 0.4 percent.
Evotec SE fell about 1 percent. The German biotechnology firm said it has reached additional program designations within its neuroscience collaboration with Bristol Myers Squibb resulting in payments of $40 million to the company.
Infineon Technologies, a world leader in semiconductor solutions, gained 1 percent after posting higher profit and revenue in the fourth quarter of fiscal 2021.
Sportswear company Adidas plunged 4.1 percent. After posting third-quarter sales slightly below expectations, the sportswear company pared full-year sales and profit forecasts.
LEONI, a cable and harnessing manufacturing firm, slumped 11 percent despite maintaining its full-year guidance.
BP Plc climbed 1.1 percent, TotalEnergies gained 0.7 percent and Royal Dutch Shell rose half a percent as oil prices rose on industry data showing a surprise decline in U.S. crude stocks last week.
British retailer Marks & Spencer soared as much as 14.5 percent as it raised its annual profit outlook for the second time in less than three months.
Ahold Delhaize, an operator of grocery stores in the United States and Europe, rallied 2.5 percent after reporting strong Q3 results and raising full-year earnings guidance.
Media firm ITV jumped 11 percent after the company said 2021 advertising revenue will hit record levels.
French energy company Edf fell about 1 percent despite backing its full-year guidance.
Lender Credit Agricole dropped 1.6 percent after delivering better-than-expected profit on lower pandemic-related provisions for bad loans.
Alstom jumped almost 10 percent after the train maker said it expects progressive recovery of EBIT in fiscal 2021/22.
Market Analysis
European Shares Subdued Ahead Of US Inflation Test
2021-11-10 09:50:14
