European Shares Mixed As UK Inflation Jumps More Than Expected

(RTTNews) - European stocks were mixed on Wednesday after closing at a record high in the previous session.

Yields on euro zone bonds ticked higher for the fourth day, keeping investors on edge.

Meanwhile, U.S. President Donald Trump continued his aggressive stance on trade, reiterating that America will charge reciprocal tariff to trading partners which would be 'no more, no less' levied by other countries.

The pound sterling was moving higher after data showed U.K. consumer price inflation rose more than expected to a 10-month high in January.

The consumer price index logged a 3.0 percent rise in January, following December's 2.5 percent increase.

This was the fastest growth since March 2024 while analysts had forecast prices to climb 2.8 percent.

The pan European STOXX 600 was marginally lower at 556.88 after rising 0.3 percent in the previous session.

The German DAX edged up by 0.3 percent, while France's CAC 40 slid 0.2 percent and the U.K.'s FTSE 100 shed 0.3 percent.

MTU Aero Engines AG tumbled nearly 5 percent. The German engine manufacturer reported a decline in its fourth quarter net income to 143 million euros from 215 million euros in the same quarter last year.

Commodities giant Glencore slumped 5.2 percent after posting lower earnings last year.

Antofagasta rallied 3.3 percent after a rating upgrade.

Philips plummeted 8.5 percent as the Dutch medical device maker posted worse-than-expected losses in 2024.

BP added 1 percent after reports that the oil major is considering a potential sale of its lubricants business, Castrol.

Defense giant BAE Systems declined 1.7 percent despite reporting strong 2024 results. HSBC fell more than 1 percent. The lender posted full-year revenue of $65.85 billion, slightly lower than $66.1 billion in 2023.