Market Update
European markets were mostly flat Wednesday with the focus on earnings and some stock-specific news.
The FTSE traded flat. The CAC 40 Paris declined 0.3% while the German DAX also traded flat.
Data earlier showed April euro-zone inflation rose less-than-expected to 0.7%, missing forecasts for a reading of 0.8%, and up from 0.5% in March. The rate is well below the ECB’s target of near 2% inflation.
Stocks on the Move
Shares of Standard Life PLC fell 1.7% after the British insurer said U.K. annuity sales have declined since the government in March proposed pension-industry changes.
Over in Paris, Alstom shares jumped almost 10% after the industrial giant agreed to sell its power business to GE for over $12 billion.
Deutsche Bank was down a percent after rallying in the previous session following its results.