European stocks tread water ahead of US inflation data

According to Business Recorder, European shares were largely flat on Wednesday as investors weighed earnings and geopolitical strains before key US inflation figures. The pan-European STOXX 600 barely moved at 661.26 points by 0715 GMT, though it stayed near recent record levels. Brent crude futures rose 0.8 per cent, reaching $89.57 a barrel, as fresh strikes on vessels hit Middle East shipping.

Tehran insists the Strait of Hormuz stays shut until Washington meets its terms, while US President Donald Trump has repeatedly claimed a deal is near. Despite those claims, the six-month-old war shows no sign of winding down soon, and optimism about a settlement has dimmed. The United States and the Iran-aligned Houthis of Yemen each reported separate attacks on shipping.

TKMS jumped 9.2 per cent after the warship maker lifted guidance again, its second upgrade in half a year. TUI slipped 2.8 per cent as its third-quarter operating profit came in below forecasts, hurt by weaker bookings and costlier jet fuel. K+S, a German potash and salt producer, gained 2.2 per cent after raising its full-year outlook. US CPI data due later today will not capture the recent energy cost rise but could shape expectations for next month's Federal Reserve meeting, where markets see the odds of a rate increase as evenly balanced.