European markets open higher as traders assess simmering geopolitical tensions
U.K. inflation picks up in October
A shopper browses fruit and vegetables for sale at an indoor market in Sheffield, UK. The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year.
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U.K. inflation picked up sharply to a higher-than-expected 2.3% in October, data from the British Office for National Statistics showed Wednesday.
The hike marks a sharp increase from the 1.7% rise recorded in September and exceeds the 2.2% forecast of economists polled by Reuters.
Core inflation, which excludes energy, food, alcohol and tobacco, came in at 3.3% for the month, up slightly from 3.2% in September.
Read more on the story here: UK inflation rises sharply to 2.3% in October, above expectations
— Karen Gilchrist
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Is it time to buy the dip in luxury retailer Burberry‘s shares?
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Hedge fund manager David Neuhauser made the case on CNBC’s Squawk Box Europe this week.
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European markets: Here are the opening calls
European markets are expected to open higher Wednesday.
The U.K.’s FTSE 100 index is expected to open 4 points higher at 8,106, Germany’s DAX up 46 points at 19,108, France’s CAC up 23 points at 7,252 and Italy’s FTSE MIB up 118 points at 33,567, according to data from IG.
Earnings are set to come from Severn Trent and British Land. Data releases include U.K. inflation figures.
— Holly Ellyatt
