Investing.com – European stock markets fell Thursday as investors weighed consecutive quarterly corporate results ahead of the latest hotly anticipated euro zone inflation data.

At 04:05 ET (08:05 GMT), prices in Germany were down 0.8%, in France they were down 0.5% and in the UK they were down 0.6%.

CPI release in the euro zone in the spotlight

Investors will be paying close attention to the release of the latest data later in the session, as it is likely to indicate to European Central Bank policymakers the likely pace of interest rate cuts in the future.

Euro area CPI inflation is expected to pick up slightly year-on-year in October, to 1.9% from 1.7% the previous month, but still remains below the ECB’s target of 2.0%.

In an interview with the French newspaper Le Monde, the ECB president said that the inflation rate would sustainably reach this target within 2025.

“Perhaps we could have started intervening a few months earlier. But we raised interest rates at an unprecedented pace and managed to significantly reduce inflation in a low period of time,” Lagarde said on Thursday.

“Now I want the 2% target to be achieved in a sustainable way. Unless there is a major shock, this will happen in 2025.”

The ECB has cut interest rates three times this year, with the latest cut coming at its last meeting in October, marking the first parallel cut since the 2011 euro crisis.

Shell announces further buyouts

On the corporate side, investors can see more of the quarterly earnings of a number of immense companies.

Shell (LON:) shares rose 1.5% after Europe’s largest oil and gas company reported a third-quarter profit of $6 billion, beating forecasts, and announced another $3.5 billion share buyback.

Shares of BNP Paribas (OTC:) fell more than 6% after the French bank, the euro zone’s biggest lender, needed increased trading activity in its investment banking division to meet quarterly earnings expectations amid continuing credit difficulties.

Shares of Stellantis (NYSE:) rose 1% after the auto giant said it was moving quickly to reduce U.S. inventories even as quarterly revenue fell 27%.

Shares of AB Inbev (EBR:) fell more than 3% after the brewing giant reported a decline in volumes in the third quarter following a decline in sales in the Asia-Pacific region, although share buybacks and the removal of guidance helped.

On the other hand, both Meta Platforms (NASDAQ:) and Microsoft (NASDAQ:) beat earnings and revenue expectations in the July-September period, but the tech giants also pointed to increased spending on building AI data centers in the rush to meet massive needs demand.

Oil prices are rising as supplies run out

Oil prices rose slightly on Thursday, extending gains from the previous session, after an unexpected drop in U.S. inventories highlighted strength in demand in the U.S., the world’s biggest consumer.

By 04:05 ET, the contract was up 0.2% at $72.28 a barrel, while WTI futures were up 0.2% at $68.77 a barrel.

Both contracts rose more than 2% on Wednesday, after falling more than 6% earlier in the week on reduced risk of a broader conflict in the Middle East.

According to data , U.S. gasoline inventories unexpectedly fell to a two-year low in the week ending Oct. 25, while crude oil stocks also saw an unexpected decline.