European shares edge higher as US CPI data looms, Credit Agricole gains

European shares inched higher on Wednesday as Credit Agricole gained after posting upbeat earnings, while investors were on tenterhooks ahead of U.S. inflation data that is likely to shape expectations for rate cuts in the world's largest economy. The pan-European STOXX 600 index was up 0.1%, as of 7:04 GMT.

European shares inched higher on Wednesday as Credit Agricole gained after posting upbeat earnings, while investors were on tenterhooks ahead of U.S. inflation data that is likely to shape expectations for rate cuts in the world's largest economy.

The pan-European STOXX 600 index was up 0.1%, as of 7:04 GMT. U.S. consumer price index (CPI) data, due at 8:30 am ET (12:30 GMT), comes after a strong payrolls report last week dampened hopes of rate cuts from the Federal Reserve anytime soon.

Shares of Credit Agricole SA gained 3.8% after France's second-biggest listed bank beat first-quarter earnings estimates on a boost from trading revenue. Siemens Healthineers fell 5.3% as the medical device maker said it was discontinuing its heart surgery robots business after its quarterly operating profit fell 30%.

Swedish Orphan Biovitrum dropped 15.3% to the bottom of the STOXX 600 after the drug maker said it had agreed to make a $1.7 billion cash offer to buy U.S.-based CTI BioPharma.