European Shares Mixed Ahead Of Key Inflation Data

(RTTNews) - European stocks were mixed on Wednesday ahead of flash Eurozone CPI data due later in the day.

Regional government bond yields eased slightly as new surveys showed the euro zone economy's growth slowed for a second consecutive month in January.

The European Central Bank announces its monetary policy decision on Thursday, with no change in interest rates expected. The focus will be on the central bank's views on growth and inflation outlook.

The Bank of England is also expected to hold rates steady on Thursday, with updated economic projections unlikely to show major changes from the Bank's previous forecasts.

The pan European Stoxx 600 slipped 0.2 percent to 616.94 after finishing marginally higher on Tuesday.

The German DAX dipped 0.3 percent, while France's CAC 40 rose half a percent and the U.K.'s FTSE 100 surged 0.6 percent.

In corporate news, Novo Nordisk slumped 16 percent in Copenhagen after CEO Mike Doustdar highlighted the headwinds of significantly lower U.S. pricing on its best-selling weight loss drug Wegovy.

Beazley shares soared almost 9 percent as Zurich Insurance Group reached an agreement in principle on the key financial terms of a possible cash offer for the London-based specialty insurer.

U.K. pharma giant GSK rose 1.3 percent on reporting better-than-expected profit in the fourth quarter.

Swiss drug maker Novartis fell 1.6 percent after it forecast a profit decline for this year.

Spanish bank Banco Santander tumbled 3.4 percent after it agreed to acquire Webster Financial Corp. in a $12 billion deal.

French lender Credit Agricole lost 3.2 percent after reporting a 39 percent fall in fourth-quarter profit.

Swiss bank UBS declined 1 percent despite reporting a 56 percent surge in fourth-quarter net profit.

Infineon Technologies fell over 1 percent. The German chipmaker said it would ramp up spending on its technology for data centers to meet growing demand for artificial intelligence solutions.