European Stocks Close Mostly Higher in Wednesday Trading; Energy Prices Keep German Inflation 'Persistently High'

11:52 AM EST, 11/11/2026 (MT Newswires) -- The European stock markets closed mostly higher in Wednesday trading as inflation in Europe's largest economy remained hot. The Stoxx Europe rose 0.6%, Germany's DAX climbed 1.1%, the FTSE 100 gained 0.7%, France's CAC increased 0.6%, while the Swiss Market Index ended the trading session unchanged. Germany's inflation rate, as measured as the year-on-year change in the consumer price index, was 2.8% in October, down from 3.3% in September, according to the Federal Statistical Office (Destatis). Despite the deceleration, the reading was still considered too high. ''The persistently high rate of inflation continued to be primarily driven by the development of energy prices, even though the new fuel discount introduced at the beginning of October is likely to have dampened inflation somewhat," Destatis President Ruth Brand said in a statement. In corporate news, Stellantis faces potential legal and policy action from the Canadian government after Prime Minister Mark Carney called the automaker's sale of its Brampton, Ontario, factory to armored-vehicle maker Roshel 'unacceptable', the Wall Street Journal reported Tuesday. The sale violates commitments Stellantis made to the government in exchange for taxpayer funding and to its Canadian employees, the report said, citing Carney. Canadian federal accounting records indicate that more than 220 million Canadian dollars ($155 million) were provided for the retooling of Stellantis' Brampton and Windsor plants, according to the WSJ. Carney said that the government is prepared to use all available legal and policy measures to protect about 2,000 affected workers and public funds, the WSJ reported. The automaker's spokeswoman said the company was prepared to repay federal and provincial governments for financial support, the report said. Stellantis did not immediately respond to MT Newswires' request for comment. Shares of the company dropped 3.6% in Paris. HSBC, Goldman Sachs, Fortress Investment Group are among financial firms teaming up to provide $150 million in financing to United Saudi in one of Saudi Arabia's first major private credit deals since the US-Iran war began, Bloomberg reported Wednesday, citing people familiar with the matter. Shares of HSBC gained 0.9% in London. Diageo has more than 40 containers of bulk Scotch whisky held at Indian ports amid a dispute over whether the shipments qualify for reduced tariffs under the India-UK trade pact, Reuters reported Wednesday, citing four people familiar with the matter and a confidential government memo. The report said customs investigators are seeking to apply a 150% import duty, arguing that bulk scotch concentrates used in further whisky production are not eligible for the pact's 75% rate, which they say applies only to finished, bottled products. Pernod Ricard also has more than 40 containers on hold. Shares of Diageo declined 1.3% in London, while Pernod Ricard's stock lost 1.2% in Paris. Smith & Nephew has agreed to have Bank of America's Merrill Lynch International serve as the purchaser of up to $250 million worth of its shares or up to 68.3 million shares in the second and final tranche of its buyback authorization, the company said Wednesday. The shares acquired by Merrill Lynch will be subsequently repurchased by Smith & Nephew and held in its treasury to either be cancelled or used for employee share plans, the company said. Shares of the medical device maker rose 1.5% in London. SAP and VF said Wednesday that they have opened S.Fashion, a retail test store at SAP's Walldorf headquarters. The store uses artificial intelligence to manage inventory, pricing and fulfillment for VF brands, including The North Face, Vans and Timberland. It also uses AI, RFID tags and robotics to handle stock and orders without manual handoffs between systems. Shares of SAP increased 0.4% in Frankfurt.