European Markets Close With Mild Losses

(RTTNews) - The major European stock markets finished moderately to the downside in cautious trade on Wednesday as benign U.S. inflation data prompted traders to pare back Fed rate cut bets for this year.

The markets spent all day in the red as investors also are waiting see what happens next in terms of tariffs and upcoming talks between Ukraine and Russia in Istanbul.

The FTSE in London slipped 17.91 points or 0.21 percent to finish at 8,585.01, while Germany's DAX sank 111.55 points or 0.47 percent to close at 23,527.01 and the CAC 40 in France slumped 37.04 points or 0.47 percent to end at 7,836.79.

In London, Spirax Group plunged 6.00 percent, while Entain spiked 3.51 percent, Airtel Africa rallied 3.25 percent, Experian stumbled 2.86 percent, Compass Group retreated 2.53 percent, Rightmove improved 2.10 percent, Vodafone sank 0.73 percent, Prudential shed 0.66 percent, Rolls-Royce fell 0.50 percent and British American Tobacco dipped 0.20 percent.

In Germany, Bayer Aktiengesellschaft plummeted 10.39 percent, while Daimler Truck soared 2.74 percent, E.ON rallied 2.01 percent, Volkswagen tumbled 1.72 percent, Vonovia dropped 1.34 percent, Airbus shed 1.03 percent, Deutsche Post lost 0.74 percent and Deutsche Borse gained 0.64 percent.

In France, Atos plummeted 9.36 percent, while Bouygues rallied 2.69 percent, Carrefour spiked 2.14 percent, Credit Agricole jumped 1.82 percent, Societe Generale collected 1.80 percent, BNP Paribas climbed 1.06 percent, Airbus dropped 0.99 percent, Sanofi and Legrand both sank 0.97 percent and Vivendi lost 0.96 percent.

In economic news, Germany's consumer price inflation softened to a six-month low in April on falling energy prices, as initially estimated, final data from Destatis showed on Wednesday. The consumer price index rose 2.1 percent year-on-year, following a 2.2 percent increase in March. The rate came in line with the initial estimate.

Finland's consumer price inflation held steady for the second straight month in April, data from Statistics Finland showed on Wednesday. The consumer price index rose 0.5 percent year-over-year in April, the same as in March.

Spain consumer price inflation softened to the lowest level since last October, final data from the statistical office INE revealed on Wednesday. Consumer price inflation slowed to 2.2 percent in April from 2.3 percent in March. The figure matched the preliminary estimate on April 29.