European stocks close lower as UK inflation hits 40-year high; Stoxx 600 down 1.1%

European stocks close lower as UK inflation hits 40-year high; Stoxx 600 down 1.1%


LONDON — European stocks closed lower on Wednesday as fears over inflation rattled markets on either side of the Atlantic.

Stock picks and investing trends from CNBC Pro:

Global markets have remained bogged down by fears of aggressive monetary policy tightening and slowing economic growth.

Earnings before the bell came from ABN AMRO, Burberry, British Land and Premier Foods.

In terms of individual share price movement, wind turbine maker Siemens Gamesa jumped more than 13% by mid-morning after Reuters reported that Siemens Energy is readying a bid to buy the remaining third of the company that it does not already own.

At the bottom of the European blue chip index, Anglo-German travel operator Tui fell 12% after a share placement.



Source

North Korea fires 10 ballistic missiles during U.S.-South Korea military drills
World

North Korea fires 10 ballistic missiles during U.S.-South Korea military drills

People sit in front of a television screen showing a news broadcast with file footage of a North Korean missile test, at a train station in Seoul on January 27, 2026. (Photo by Jung Yeon-je / AFP via Getty Images) Jung Yeon-je | Afp | Getty Images North Korea fired more than 10 ballistic missiles […]

Read More
Trump administration directs Sable Offshore to restore Santa Ynez oil unit
World

Trump administration directs Sable Offshore to restore Santa Ynez oil unit

U.S. Department of Energy Secretary Chris Wright and U.S. President Donald Trump look on during an event to sign an executive order at the White House, in Washington, D.C., U.S., Oct. 6, 2025. Kent Nishimura | Reuters The Trump administration on Friday directed Sable Offshore to restore oil drilling operations off the southern California coast, the U.S. Energy […]

Read More
Trump says U.S. ‘obliterated’ military targets on Iran’s Kharg Island but didn’t ‘wipe out’ oil infrastructure
World

Trump says U.S. ‘obliterated’ military targets on Iran’s Kharg Island but didn’t ‘wipe out’ oil infrastructure

A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026 Planet Labs Pbc | Via Reuters U.S. President Donald Trump said on Friday that he directed the U.S. Central Command to carry out a bombing raid, hitting military targets on Iran’s Kharg Island. “Moments ago, at my direction, the United […]

Read More