Europe opens lower amid inflation data

Major European stock indexes opened lower on Wednesday as investors digested fresh economic data. Germany’s Destatis reported producer prices rising 1.7% month-on-month in April. In the United Kingdom, producer prices increased 1.4% monthly, the Office for National Statistics said, while separate data showed UK annual inflation slowed to 2.8% in April from 3.3% in March. Eurozone inflation data is slated for later in the session.

At 9:00 am CET, the FTSE 100 was 0.39% lower, with Relx PLC going down 3.40%. The Euro Stoxx 50 lost 0.15%, as Wolters Kluwer NV declined 2.51%. The CAC 40 worsened by 0.32%, with Eiffage SA falling 3.13% at 9:02 am CET. The DAX decreased 0.35%, as SAP SE lost 2.35% at 9:03 am CET.

The euro and the British pound were both flat compared to the dollar at 8:58 am CET, going for $1.15967 and $1.33873, respectively.