Published by Global Banking & Finance Review®
Posted on December 11, 2024
2 min readLast updated: January 27, 2026
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European stocks fell due to disappointing corporate updates and anticipation of U.S. inflation data. Key movers included Inditex, Siemens Energy, and Zalando.
(Reuters) - European stocks eased further from multi-week highs on Wednesday after a series of downbeat corporate updates and as investors awaited U.S. inflation data.
The pan-European STOXX 600 index had slipped 0.2% by 0811 GMT, dipping for a second day after touching a seven-week closing high on Monday.
Asian stocks also took a breather ahead of a U.S. inflation reading that is expected to leave the Federal Reserve on course to cut rates again. The odds of a 25 basis point cut next week are at 85%, per CME's FedWatch tool.
Zara owner Inditex slid more than 6% after the world's biggest listed fast-fashion retailer posted a rare miss on third-quarter sales.
German energy group Siemens Energy dropped 5% after U.S. rival GE Vernova's CEO said he was cautious about the outlook for the struggling wind sector.
Adidas AG dipped 1.5% after authorities raided its headquarters in Germany as part of a years-long tax investigation.
On the flip side, About You soared 65% after German online retailer Zalando said it would acquire the fashion group in a 1.1 billion euros ($1.2 billion) deal. Zalando, however, tumbled about 10%.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza)
The article discusses the decline in European shares due to disappointing corporate updates and anticipation of U.S. inflation data.
Inditex, Siemens Energy, Adidas, and Zalando were among the companies affected.
The U.S. inflation data is expected to influence the Federal Reserve's decision on interest rate cuts.
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