European stock markets mid session: stocks traded lower on the Chinese inflation data

Stock indices traded lower on the Chinese inflation data. The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Wednesday. The Chinese consumer price index (CPI) rose at annual rate of 1.6% in September, missing expectations for a 1.8% increase, after a 2.0% gain in August.

The Chinese producer price index (PPI) dropped 5.9% in September, in line with expectations, after a 5.9% decline in August. It was the biggest decline since 2009.

Meanwhile, the economic data from the Eurozone was weaker than expected. Eurostat released its industrial production data for the Eurozone on Wednesday. Industrial production in the Eurozone declined 0.5% in August, in line with expectations, after a 0.8% gain in July. July's figure was revised up from a 0.6% rise.

The decrease was driven by declines in energy, non-durable consumer goods and capital output. Energy output dropped 3.0% in August, non-durable consumer goods were down 0.1%, while capital goods output fell by 1.0%.

On a yearly basis, Eurozone's industrial production gained 0.9% in August, exceeding expectations for a 1.8% rise, after a 1.7% increase in July. July's figure was revised down from a 1.9% gain.

The increase was driven by rises in durable and non-durable consumer goods and capital goods. Durable consumer goods climbed by 4.5% in August from a year ago, capital goods rose by 2.8%, while non-durable consumer goods gained by 0.1%.

The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate fell to 5.4% in the June to August quarter from 5.5% in the May to July quarter. It was the lowest reading since the second quarter of 2008.

Analysts had expected the unemployment rate to remain unchanged at 5.5%.

U.K. unemployment in the June to August period dropped by 79,000 to 1.7 million from the previous quarter.

Average weekly earnings, excluding bonuses, climbed by 2.8% in the June to August quarter, missing expectations for a 3.0% rise, after a 2.9% gain in the May to June quarter.

Average weekly earnings, including bonuses, rose by 3.0% in the June to August quarter, missing expectations for a gain of 3.1%, after a 2.9% increase in the May to June quarter.

The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.

Current figures:

Name Price Change Change %

FTSE 100 6,292.49 -49.79 -0.79 %

DAX 9,924.3 -108.52 -1.08 %

CAC 40 4,606.96 -36.42 -0.78 %