European Markets Open Lower Amid ECB and Inflation Focus

European markets experienced a downturn at Wednesday's opening, with investors closely monitoring the upcoming European Central Bank's interest rate decision. A 25 basis-point rate cut is widely anticipated.

Inflation Figures Stir Market Sentiment

Today's market focus also includes the latest inflation data from the European Union and Italy. The United Kingdom has already reported a decrease in annual inflation to 2.6% in March, down from February's 2.8%, and below market expectations.

Major Indices and Stocks Performance

Germany's DAX fell by 0.50%, with Daimler Truck leading the losses at 2.37%. The Euro Stoxx 50 declined by 1.05%, impacted by Prosus's 2.85% drop. France's CAC 40 dipped 0.82%, dragged down by Publicis's 2.86% fall. The UK's FTSE 100 decreased by 0.20%, with Diploma losing 2.73%.

Currency Movements

The euro strengthened by 0.75% against the dollar, trading at 1.13654, while the pound gained 0.24% against the dollar, reaching 1.32629.