European stocks saw limited movement during Wednesday’s trading session.
Investors were awaiting the release of U.S. inflation data, while also assessing corporate earnings and monitoring geopolitical developments in the Middle East.
The Stoxx 600 index of European stocks stood at 661.26 points by 07:15 GMT.
It remained close to its recent highs.
Oil prices supported energy stocks, after Brent crude futures rose 0.8% to $89.57 per barrel.
This came amid renewed concerns regarding shipping routes in the Middle East.
As a result, the European energy sector rose 0.7%, while the automotive and auto parts sector fell 0.8%.
Investors are awaiting the release of the U.S. Consumer Price Index.
This is because it provides clues about the path of monetary policy ahead of the next Federal Reserve meeting.
Market forecasts indicate a 50% probability of an interest rate hike.
On the corporate front, TKM shares jumped 9.2% after the company raised its financial forecasts.
Meanwhile, TUI shares fell 2.8% due to weak bookings and rising jet fuel costs.
In contrast, shares of Germany’s K+S rose 2.2% after the company improved its annual outlook.
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