European equities hovered around the flatline on Wednesday, holding close to the one-month lows hit in the previous session as concerns about a potential AI-driven bubble, fading expectations of rate cuts, and lingering worries over the economic outlook continued to weigh on sentiment.
The British pound traded softer after fresh data showed that U.K. inflation cooled in October, largely due to lower gas and electricity costs.
The consumer price index rose 3.6% year-on-year last month, easing from 3.8% in September, though still coming in slightly above economists’ projections of 3.5%.
Across the major indices, the FTSE 100 slipped 0.2%, France’s CAC 40 edged down 0.1%, while Germany’s DAX managed a modest 0.2% gain.
In corporate moves, Lloyds Banking Group shares dipped in London after the bank confirmed it will acquire fintech firm Curve as part of its digital strategy.
British Land (LSE:LLOY) also traded lower after reporting a 1.2% rise in the value of its U.K. property portfolio for the half-year to September.
On the upside, Rotork (LSE:ROR) jumped after announcing a new £50 million share buyback program.
Swiss drugmaker Roche (BIT:1RO) advanced following news that the European Commission granted conditional marketing approval for its subcutaneous formulation of Lunsumio.
Sage Group (LSE:SGE) climbed sharply as the software company delivered a stronger-than-expected set of full-year numbers and unveiled a £300 million share repurchase plan.
Tesco (LSE:TSCO) also gained ground after launching the third tranche of its ongoing £1.45 billion buyback, with up to £350 million earmarked for repurchases.
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