In a mixed trading session on Wednesday, European stock markets largely closed lower, with the Stoxx Europe 600 declining by 0.15%. The Swiss Market Index saw a decrease of 0.21%, while France's CAC dropped by 0.40%. Conversely, Germany's DAX fell by 0.18%. In a positive turn, the FTSE in London managed to close nearly 1% higher, highlighting a contrast in market performances across the continent. In the United Kingdom, the consumer price index (CPI) climbed 1.7% for the year leading up to September, a decline from 2.2% in August, as reported by the Office for National Statistics (ONS).
Monthly analysis revealed that CPI remained largely flat, reflecting a decrease from a 0.5% rise last year. The ONS also uncovered that producer input prices experienced a significant drop of 2.3% in the year to September, a contrasting shift from a 1% decrease reported for the preceding year. Meanwhile, producer output prices fell by 0.7% annually by September, compared to a revised 0.3% increase noted during the previous year.
Furthermore, in monthly terms, producer input prices reduced by 1.0%, and output prices saw a 0.5% decline in September. Shifting our focus to Italy, the consumer price index reflected a minor decrease of 0.2% for September on a monthly basis, although it increased by 0.7% year-on-year. The Italian National Institute of Statistics credited this slowdown in inflation primarily to waning prices of energy products. In the corporate realm, shares of ASML plummeted by over 5% during Wednesday's trading session in Amsterdam, following the Dutch semiconductor giant's announcement of 2025 revenue guidance that did not meet analysts' expectations. Additionally, British pharmaceutical behemoth GSK stated that the US Food and Drug Administration has approved a new drug application concerning gepotidacin, designed to treat uncomplicated urinary tract infections in female adults and adolescents. Finally, on the telecommunications front, Finnish company Nokia is reportedly engaged in talks with Indian telecommunications firm Bharti Airtel over a potentially multi-billion dollar contract aimed at supplying 5G telecom equipment.
Sources close to the situation disclosed this information, highlighting the significance of the negotiations; however, neither Nokia nor Bharti Airtel provided immediate comments to MT Newswires..