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.

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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.

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