European markets opened lower on Wednesday. Losses were led by China-exposed miners, while UK stocks were under pressure from higher-than-expected core inflation data.
European shares open lower: The pan-European STOXX 600 was down 0.2% by 0708 GMT after closing on Tuesday at its lowest point in more than a month.
British inflation slowed as anticipated in July to its lowest annual rate since February 2022, according to data, however there were further indications of pressure on core and services prices. As a result, the blue-chip FTSE 100 index in the UK fell by 0.3%.
European miners fell by 0.8% as traders evaluated the likelihood of a slow economic recovery in China, the world’s largest purchaser of metals.
The latest in a run of unfavourable reports, new home prices in China declined in July for the first time this year.
After the Swiss eye care firm updated its forecast for full-year net sales and core diluted profits per share, Alcon’s shares increased by 1.5%.
After the British auto and home insurer reported a little increase in its first-half pre-tax earnings, Admiral Group saw a 4.6% increase.