European Shares Rise As UK Inflation Drops More Than Expected
(RTTNews) - European stocks traded higher on Wednesday, with banks and commodity-stocks leading the surge ahead of central bank decisions from the European Central Bank, Sweden's Riksbank, Bank of England, and Norway's Norges Bank due this week.
Investors cheered data that showed U.K. inflation slowed more than expected in November.
The consumer price index rose 3.2 percent year-on-year, slower than the 3.6 percent increase in October, the Office for National Statistics said. Inflation was forecast to ease marginally to 3.5 percent.
Core inflation that excludes prices of energy, food, alcohol and tobacco, softened to 3.2 percent from 3.4 percent in the previous month.
The pan-European Stoxx 600 was up 0.3 percent at 581.57 after falling half a percent on Tuesday.
The German DAX gained 0.4 percent, France's CAC 40 edged up marginally and the U.K.'s FTSE 100 was up 1.2 percent.
The British pound weakened against the dollar in response to softer than expected inflation data.
Proximus shares fell nearly 2 percent. The provider of digital services and communication solutions said its CFO, Mark Reid, will leave at the end of January 2026 to pursue other career opportunities in the U.K.
Distribution and services giant Bunzl tumbled 3.7 percent after reiterating its 2025 guidance for adjusted operating profit.
Outsourcing firm Serco Group jumped 5.4 percent after it forecast profit ahead of analyst expectations for this year and next.
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