European Stocks Mostly Lower at Open

On Wednesday, European stock markets opened mostly lower as investors eagerly awaited the release of the US November inflation data and the monthly report from OPEC. The potential impact of shifts in energy prices on inflation contributed to the cautious market sentiment.

Inditex Reports Sales Growth

In corporate news, Inditex, the owner of fashion retail firm Zara, announced a 7.1% growth in sales to reach €27.4 billion during the first nine months of their fiscal 2024. The company's market capitalization stands at €162.79 billion.

Market Indices and Currency Movements

By 9:00 am CET, the French CAC 40 traded 0.23% lower, with Kering SA down 1.43%. The Euro Stoxx 50 decreased by 0.15%, and LVMH lost 0.72%. Meanwhile, the British FTSE 100 fell by 0.32%, and JD Sports Fashion dropped 1.36%. The German DAX remained flat.

In currency markets, the euro was down 0.35% against the dollar, trading at $1.04900 at 8:59 am CET. Simultaneously, the pound sterling lost 0.30% against the US currency, changing hands for $1.27333.