European Shares Stage Tentative Recovery

(RTTNews) - European stocks recovered some ground on Wednesday, after having suffered heavy losses in the previous session amid concerns that Donald Trump's protectionist policies would put upward pressure on inflation and hamper global growth.

Eurozone bond yields pushed higher as investors awaited key U.S. consumer and producer inflation readings this week for hints of a possible Federal Reserve rate cut in December.

Traders are currently pricing in about two Fed rate cuts through June, against almost four seen at the start of last week.

The pan-European STOXX 600 was up 0.1 percent at 502.95 after plummeting 2 percent in the previous session.

The German DAX and France's CAC 40 both rose about 0.4 percent, while the U.K.'s FTSE 100 was up 0.3 percent.

In corporate news, Dutch lender ABN AMRO Bank fell nearly 3 percent after reporting a fall in third-quarter net profit.

Just Eat Takeaway.com shares jumped 21 percent. The food delivery company said that it is selling its U.S. business Grubhub to New York-based Wonder Group in a deal valued at $650 million.

Miners traded higher, with Glencore and Antofagasta climbing 1-2 percent in London. Smiths Group shares jumped more than 14 percent after the engineering group resumed and increased its share buyback program.

Babcock International soared 10 percent as the weapons maker reported a sharp jump in half-year profits and backed FY25 expectations.

Credit data firm Experian dropped 1.4 percent after pretax profit fell six percent in the first half.

Flutter Entertainment, a leading operator in the online sports betting and iGaming industry, climbed 4.4 percent after reporting robust third-quarter results.

Siemens Energy soared 16 percent after the German utility sector supplier raised its mid-term targets and set a new record for its order book.

RWE jumped 8 percent after the company announced a €1.5 billion share buyback program.

Insurer Allianz rose 1.6 percent after slightly lifting its guidance for full-year profit.