European stocks fluctuated on Wednesday as the market awaited the euro-zone's data on both consumer and economic sentiment for March, slated to be released later the same day. Further anticipatory tension is building for the highly anticipated U.S. personal expenditure consumption data, which is to be published on Friday.
Additional insights into the Federal Reserve's interest rate path are expected from the impending release of its favored inflation indicator, as well as the public remarks from Federal Reserve Chair Jerome Powell, scheduled for Friday.
In related news, the consumer confidence in France surprisingly slightly increased in March, as indicated by the monthly survey data published by the country's statistical office, INSEE. The consumer sentiment index rose to 91 from February's 90, defying economists' predictions that the score would stabilize at 90.
Meanwhile, consumer prices in Spain saw a faster growth in March, driven by heightened electricity and fuel prices, according to the preliminary data from the country's statistical office, INE. The consumer price index moved up by 3.2% annually, following a rise of 2.8% in February, meeting expectations.
The inflation figures for France and Italy will be announced on Friday. On the other hand, German and euro area-wide data are scheduled for release next week.
The pan-European STOXX 600 experienced a slight drop, settling at 510.97 after jumping 0.2% to a record high in the preceding trading session. The German DAX rose by 0.2%, while France's CAC 40 barely decreased and the UK's FTSE 100 dropped by 0.3%.
H&M's shares spiked over 13% as the world's second-largest listed fashion retailer exceeded first-quarter operating profit expectations. Assa Abloy AB saw a near 1% decrease. The Swedish manufacturing giant publicly declared its acquisition of Nomadix and Global Reach, U.S. and UK-based Wi-Fi access and engagement platform solution providers for the hospitality and commercial real estate sectors.
In London, BP Plc's shares dipped by 1.6% and Shell lost 1.1% amidst a second day of declining crude prices caused by an industry report indicating increasing U.S. crude inventories.
DS Smith shares surged by 7% following the paper and packaging firm's confirmation of ongoing discussions with International Paper regarding an all-stock offer deal valued at £5.72 billion ($7.22 billion), in response to media speculation.
Lastly, CRH shares rose approximately 1%, following the company's announcement that it has completed the second phase of the divestment of its lime operations in Europe, UK included.
