European Markets Open Lower Amid German Inflation Data

On Tuesday, European stock markets experienced a downturn as investors digested the latest economic figures from Germany. The country's annual inflation rate was confirmed to have risen to 2.2% in November, according to Teletrader.

At 9:00 am CET, key indices showed notable declines. The French CAC 40 dropped by 0.34%, with UNIBAIL-RODAMCO leading the losses at 2.48%. The Euro Stoxx 50 fell 0.36%, with Prosus NV shedding 2.46%. Meanwhile, the British FTSE 100 was down by 0.49%, with Ashtead Group experiencing a significant drop of 7.49%. The German DAX also lost 0.20%, with Allianz declining by 1.81%.

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