European Shares Little Changed As Investors Await US Inflation Print

(RTTNews) - European stocks were little changed on Wednesday, after having snapped an eight-session losing streak the previous day as weaker-than-expected Chinese trade data signaled growing trade challenges.

A cautious undertone prevailed as traders awaited key U.S. CPI data due later in the day that could influence the Federal Reserve's interest -rate decision next week.

Market participants also await the ECB policy meeting and the outcome of China's two-day Central Economic Work Conference that is expected to map out policies for next year.

The pan European STOXX 600 was marginally lower at 518.02 after falling half a percent on Tuesday.

The German DAX traded flat with a positive bias, while France's CAC 40 was marginally lower and the U.K.'s FTSE 100 dipped 0.2 percent.

Zara owner Inditex slumped 4.5 percent after reporting disappointing third-quarter sales.

German energy group Siemens Energy declined nearly 2 percent after U.S. rival GE Vernova sounded cautious about the outlook for the struggling wind sector.

Sportswear maker Adidas dropped half a percent after authorities raided its headquarters in Germany as part of a prolonged tax investigation.

Online retailer Zalando plunged 6 percent after it struck a deal to buy rival fashion group About You Holding for 1.1 billion euros. Shares of the latter soared 64 percent.

Bilfinger jumped 4.3 percent after launching a share buyback program.

TUI Group, a leisure and travel company, plummeted 5 percent despite reporting a boost in profit in the 2024 financial year and projecting further growth into 2025.

RM Plc shares jumped 11 percent in London. The provider of educational technology and assessment solutions said its anticipated results for the fiscal year ended November 30, 2024, are likely to exceed market expectations.

Technology group Cohort rallied 5 percent after reporting a record performance for the first half of the year.

British American Tobacco, a cigarette and tobacco manufacturer, rose about 1 percent after reaffirming its 2024 guidance.