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European stocks mostly lower; ranges limited ahead of US inflation release By Investing.com

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Investing.com – European stock markets fell largely on Tuesday, as investors digested more corporate earnings ahead of the latest US inflation reports.

At 03:15 EST (07:15 GMT), Germany's stock index fell 0.1% and France's index fell 0.1%, while the UK index rose 0.1%.

Inflation in the United States to reduce activity

European markets are consolidating on Tuesday near record levels, with the UK's FTSE 100 and the European index hitting all-time highs only on Friday.

Major European indices are set to trade in tight ranges on Tuesday, as traders remain wary of any big bets ahead of inflation readings on Tuesday and Wednesday.

The US April report is due later in the session, followed on Wednesday, and investors will be looking for any sign that price pressures are finally easing after months of strong inflation that raised concerns that the Fed may not cut interest rates this month. General.

Back in Europe, the latest German release showed that inflation appears to be under control in the Eurozone's largest economy, with April's annual figure confirmed at just 2.2%.

There was less impressive news from the UK, where the unemployment rate, excluding bonuses, remained at 6.0% in March, suggesting that wage-driven inflation may remain an issue for the Bank of England as it considers the possibility of starting to cut interest rates.

The UK also rose to 4.3% in the three months to March, up slightly from the 4.2% recorded in the previous period to February.

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Banco de Sabadell rises after takeover bid

Turning to the corporate sector, Bayer (OTC:) stock rose more than 2% after the German pharmaceutical and biotechnology giant reported a 1.3% decline in first-quarter adjusted earnings, beating analysts' expectations.

Vodafone (NASDAQ:) stock rose despite a 75% drop in its operating profit in the 12 months to the end of March, as the telecommunications giant overhauled its presence in Europe, selling its Spanish and Italian divisions while planning a merger with Three in the UK. .

in addition to. BHP Group (NYSE:) stock fell 0.5% after Anglo American (JO:) again rejected a takeover bid, saying the enhanced all-share offer, a 10% increase from BHP's initial offer, continued to significantly undervalue the company.

BHP is expected to improve its $43 billion approach to Anglo American for a second time.

Less raw edges

Crude oil prices fell on Tuesday, giving up some of the gains made in the previous session, as wildfires in Canada threaten to disrupt the country's oil supply.

By 03:15 ET, futures were trading 0.1% lower at $79.07 per barrel, while the contract was down 0.1% at $83.28 per barrel.

Both contracts rose more than 1 percent on Monday.

Major wildfires have spread across western Canada, presenting the potential for disruption to Canadian oil and gas supplies, especially as they approach a major oil hub in Fort McMurray, Alberta.

The city is the closest settlement to Canada's largest oil sands extraction operations, and in 2016 suffered extensive damage from wildfires, putting about 1 million barrels per day offline at the time.

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Additionally, it rose 0.8% to $2,343.35 per ounce, while it traded slightly lower to 1.0787.

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