European Markets Open Lower Amid German Inflation Data

European stock markets experienced a downturn on Tuesday as investors processed the latest economic figures from Germany. The country's annual inflation rate was confirmed to have risen to 2.2% in November, marking a significant increase.

At 9:00 am CET, the French CAC 40 index traded 0.34% below the flatline, with UNIBAIL-RODAMCO witnessing a 2.48% decline. Similarly, the Euro Stoxx 50 decreased by 0.36%, with Prosus NV losing 2.46%. The British FTSE 100 also traded 0.49% lower, with Ashtead Group falling by a notable 7.49%. Meanwhile, the German DAX lost 0.20% as Allianz went down by 1.81%.

The euro and the pound sterling remained stable against the dollar at 8:59 am CET, trading at $1.05481 and $1.27418, respectively.