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, revealing an annual inflation rate of 2.2% in November.

By 9:00 am CET, notable declines were observed across major indices. The French CAC 40 dropped 0.34%, with UNIBAIL-RODAMCO leading the losses at 2.48%. Similarly, the Euro Stoxx 50 decreased by 0.36%, driven by a 2.46% fall in Prosus NV. The British FTSE 100 also traded 0.49% lower, with Ashtead Group experiencing a significant 7.49% decline. Meanwhile, the German DAX lost 0.20%, as Allianz shares dropped by 1.81%.

Currency markets remained relatively stable, with the euro and the pound sterling trading flat against the dollar at $1.05481 and $1.27418, respectively, at 8:59 am CET.