European Shares Mixed Ahead Of Key Inflation Readings

European stocks traded mixed on Wednesday ahead of the euro-zone consumer and economic sentiment data for March due out later in the day, and the all-important U.S. personal expenditure consumption data on Friday.

The release of the U.S. Federal Reserve's favored inflation indicator along with public comments from Fed Chair Jerome Powell on Friday are expected to provide additional clues on the Fed's rate trajectory.

Meanwhile, France's consumer confidence unexpectedly improved slightly in March, monthly survey data from the statistical office INSEE showed earlier today.

The consumer sentiment index rose to 91 from 90 in the previous month. Economists had expected the score to remain stable at 90.

Spain's consumer prices posted a faster growth in March reflecting increase in electricity and fuel prices, flash data from the statistical office INE showed.

The consumer price index advanced 3.2 percent on a yearly basis, following February's 2.8 percent rise. The rate came in line with expectations.

France and Italy will publish their inflation figures on Friday, while German and euro area-wide data is due next week.

The pan European STOXX 600 was marginally lower at 510.97 after rising 0.2 percent to a record high in the previous session.

The German DAX rose 0.2 percent, while France's CAC 40 edged down marginally and the U.K.'s FTSE 100 dipped 0.3 percent.

H&M shares were up more than 13 percent as the world's second-largest listed fashion retailer beat first-quarter operating profit expectations.

Assa Abloy AB fell nearly 1 percent. The Swedish manufacturing conglomerate announced that it has signed a deal to acquire Nomadix and Global Reach, the U.S. and UK-based providers of Wi-Fi access and engagement platform solutions for the hospitality and commercial real estate industry.

BP Plc fell 1.6 percent and Shell dropped 1.1 percent in London as crude prices fell for a second day running on industry data showing rising U.S. crude inventories.

DS Smith shares soared 7 percent. Responding to media speculation, the paper and packaging company confirmed that it is in discussions with International Paper for an all-stock offer deal valued at 5.72 billion pounds ($7.22 billion).

CRH gained about 1 percent. The provider of building materials said that it has completed the second phase of the divestment of its lime operations in Europe, including the UK.

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