European Shares Subdued In Lackluster Trade

(RTTNews) - European stocks were flat to slightly lower on Wednesday, after having closed around one-month lows the previous day due to worries about an AI bubble, dwindling rate cut hopes and investor anxiety about the economic outlook.

The British pound was subdued as official data showed U.K. consumer price inflation eased in October, driven by gas and electricity prices.

The consumer price index logged an annual growth of 3.6 percent in October, slower than the 3.8 percent rise in September. However, inflation was slightly faster than economists' forecast of 3.5 percent.

The pan European Stoxx 600 slipped 0.1 percent to 561.25 after plunging 1.7 percent on Tuesday.

The German DAX was marginally lower, France's CAC 40 dropped 0.4 percent and the U.K.'s FTSE 100 was down 0.2 percent ahead of earnings from Nvidia and the release of minutes from FOMC's October meeting later in the day.

Lloyds Banking Group shares fell about 1 percent in London. The lender has agreed to acquire fintech company Curve as part of a strategic move to enhance its digital transformation.

Industrial equipment supplier Rotork rallied nearly 4 percent. The company said it would commence a new share buyback program worth £50 million.

Swiss pharmaceutical company Roche gained 1 percent after the European Commission granted conditional marketing authorization of Lunsumio subcutaneous.

British Land declined 1.6 percent. The landlord reported a 1.2 percent rise in the value of its U.K. property portfolio in the six months through September.

Sage Group, an enterprise software company, jumped 3.7 percent after reporting better-than-expected FY25 results and launching a share repurchase program of up to 300 million-pound-sterling.

Tesco rose about 1 percent. The retailer of consumer goods has launched the third tranche of its existing £1.45 billion share buyback program, with a value of up to £350 million.