11:46 AM EDT, 10/13/2026 (MT Newswires) -- The European stock markets closed mostly lower in Tuesday trading as investors await impending earnings results and parse Germany's rising inflation report.

The Stoxx Europe declined 0.1% lower, Germany's DAX was off 0.1%, the FTSE 100 declined 0.1%, France's CAC was down 0.1%, while the Swiss Market Index gained 0.3%.

Germany's annual inflation rate, as measured by the year-on-year change in the consumer price index, rose to 3.3% in September from 2.9% in August, and 2.8% in July, according to the Federal Statistical Office, Destatis.

"The rate of inflation exceeded the 3% mark in September, and therefore reached a new record high this year," Destatis President Ruth Brand said in a statement. "This was also the highest level recorded since December 2023."

In corporate news, BP expects Q3 net debt to be $13.5 billion to $14.5 billion, down from $22.3 billion at the end of Q2, it said early Tuesday.

This reduction includes about $3.0 billion in capital expenditure and the redemption of $1.0 billion of hybrid securities on Sept. 30, the UK's oil and gas exploration company said in its trading statement. JPMorgan analyst Matthew Lofting said the reduction beat his $18 billion forecast, according to a report from AJBell.

BP said its Q3 refining indicator margin averaged $46.7 per barrel, up from $29.6 per barrel in Q2. It expects throughput of 1,375 to 1,405 thousand barrels per day, down from 1,467 thousand barrels per day, reflecting the completion of the Gelsenkirchen divestment and a lower planned turnaround and maintenance activity.

Shares of BP rose 3.5% in London.

Barclays is preparing to resume its equity capital market business in India amid a strong initial public offerings pipeline in the country, Bloomberg reported Tuesday, citing a statement from Barclays India Chief Executive Pramod Kumar.

The move will allow Barclays to compete with other banks in underwriting, Bloomberg said. The Securities and Exchange Board of India has cleared the IPOs of about 170 companies, while 115 applications remain pending, according to the report.

Barclays did not immediately respond to MT Newswires' request for a comment.

Shares of the British lender declined 0.4% in London.

UBS transferred 1.7 billion pounds ($2.2 billion) in UK pension assets to Legal & General Group, Bloomberg reported Tuesday.

The transaction was part of the 5.7 billion pounds in global pension risk-transfer deals that Legal & General reported for the first half, according to the report. Legal & General will manage risks for the UBS pension plan, which has 7,000 members, and oversee a separate longevity hedge previously managed by Zurich Insurance Group, it added.

UBS did not immediately respond to MT Newswires' request for comment.

Shares of the Swiss bank increased 0.3% in Zurich.

Equinor signed a five-year agreement to supply Eneco with about 9 terawatt-hours of natural gas annually, with deliveries beginning Oct. 1, the company said Tuesday.

The agreement covers gas from the Norwegian continental shelf and is expected to support Eneco's supply of natural gas to residential and small-business customers in the Netherlands.

Financial terms were not disclosed.

Shares of the Norwegian petroleum refiner increased 1.6% in Oslo.

Aon and the European Bank for Reconstruction and Development have expanded the Ukraine Recovery and Reconstruction Guarantee Facility, strengthening the country's war-risk insurance market, the company said Tuesday.

The facility's expansion to 150 million euros ($167.8 million) from 110 million euros comes amid the continued war between Ukraine and Russian. Managed by Aon, the facility now offers more than 500 million euros of reinsurance coverage for goods and vehicles across nearly 10,000 policies to date, Aon said.

Shares of Aon were up 0.2% in Frankfurt.

Nokia agreed to sell its Enterprise Campus Edge business to Aurelius, the said Tuesday.

The business runs private wireless and industrial edge technology in manufacturing, mining, logistics, airports, ports and power generation, the company said. Its staff is expected to transfer with the business at closing after any required talks with employee representatives and regulatory reviews, Nokia added.

The transaction is due to close in H1 2027, subject to usual closing conditions. Financial terms were not disclosed.

Shares of the Finnish telecommunications company lost 3.1% in Helsinki.

STMicroelectronics' supervisory board has asked Jean-Marc Chery, CEO and president, to serve for another year, and Chery has accepted the proposal, the company said Tuesday.

The supervisory board will propose shareholders approve the reappointment of Chery, as CEO, president and chairman of the managing board at the STMicroelectronics 2027 annual meeting, the company said.

Shares of the French semiconductor company dropped 3.2% in Paris.

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