European shares rose at Wednesday’s open as investors digested trade updates, corporate earnings, and inflation data amid economic uncertainty. The Stoxx 600 index was up 0.5%, lifted by gains across sectors.
Inditex, owner of Zara, led gains with shares rising 7% in early London trading. Despite second-quarter sales falling short of expectations, the company reported a strong reception for its Autumn/Winter range, with sales up 9% year-on-year from August 1 to September 7.
Citi analysts said the results showed “a meaningful acceleration in current trading” and improved momentum into this quarter.
Danish pharmaceutical firm Novo Nordisk saw shares rise 2.5% after announcing plans to cut about 9,000 jobs amid efforts to streamline operations.
On the trade front, U.S. President Donald Trump urged the EU to impose tariffs of up to 100% on Chinese and Indian imports, targeting their purchases of Russian oil to pressure Moscow over the Ukraine conflict. Experts warn this could disrupt global trade further.
Inflation remains in focus. China’s consumer prices fell 0.4% year-on-year in August, a steeper drop than expected. In the U.S., the producer price index is forecast to rise 0.3% monthly, pushing annual consumer inflation to 2.9% while core inflation may hold at 3.1%. If confirmed, the Federal Reserve is expected to cut interest rates again next week.
Asia-Pacific markets rose overnight, supported by China’s inflation figures and mixed regional economic data, as investors weigh ongoing inflation and geopolitical risks.