European equity markets are showing mixed movements on Wednesday as investors await a series of key central bank policy decisions scheduled for later this week. Announcements are due from the European Central Bank, the Bank of England, Sweden’s Riksbank and Norway’s Norges Bank.

Market sentiment received a boost from fresh data indicating that inflation in the UK cooled more sharply than anticipated in November. According to figures released by the Office for National Statistics, consumer prices rose 3.2% year-on-year, down from 3.6% in October and below the consensus forecast of 3.5%.

Underlying inflation also eased, with the core consumer price index—excluding energy, food, alcohol and tobacco—slowing to 3.2% from 3.4% in the prior month.

Equity performance across the region has diverged. The UK’s FTSE 100 is up around 1.6%, while Germany’s DAX has slipped 0.2% and France’s CAC 40 is down 0.3%.

Sterling weakened against the US dollar following the softer inflation figures, as traders adjusted expectations around future interest rate policy.

At the stock level, shares in Proximus (EU:PROX) moved sharply lower after the digital services and telecommunications group announced that Chief Financial Officer Mark Reid will step down at the end of January 2026 to pursue other opportunities in the UK.

Elsewhere, distribution and services group Bunzl (LSE:BNZL) came under pressure after reaffirming its guidance for adjusted operating profit in 2025.

In contrast, outsourcing specialist Serco Group (LSE:SRP) rallied strongly after issuing profit forecasts for this year and next that exceeded analyst expectations.

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