European stocks mixed following regional activity figures

The DAX index in Germany dropped 0.1% and the CAC 40 in France added 0.2%, while the FTSE 100 in the U.K. declined 0.1%

European stocks were mixed on Wednesday, as investors digested regional activity data and reacted to a speech by European Central Bank President Christine Lagarde.

The DAX index in Germany dropped 0.1% and the CAC 40 in France added 0.2%, while the FTSE 100 in the U.K. declined 0.1%.

ECB President Christine Lagarde gave a speech stating that eurozone inflation is expected to remain around the ECB’s 2% target in the coming months.

Speaking to the European Parliament, Lagarde noted that underlying price growth also remained “consistent” with the central bank’s medium-term inflation goal.

Eurozone inflation accelerated to 2.2% last month from 2.1% in October, a small increase that is unlikely to be too concerning given it remains near the central bank’s 2% target.

We have practically achieved our goal, and the inflation rate will continue to fluctuate around this value in the near future, ECB policymaker Joachim Nagel, who heads the Bundesbank, told German magazine Stern on Tuesday.

In the European corporate sector, Inditex, the world’s largest listed clothing retailer, reported a rise in revenue of 10.6% in the four weeks to December 1, highlighting its resilience in the face of weakening consumer sentiment that is hitting most fashion retailers.

German fashion group Hugo Boss said that it aims to achieve an operating profit margin of nearly 12% over the medium-to-long term as part of a strategic overhaul.

Airbus lowered its commercial aircraft delivery target to around 790 aircraft for 2025, citing a supplier quality issue on fuselage panels impacting its A320 line.