This is CNBC's live blog covering European markets.

LONDON — European markets were lower on Thursday, as investors look ahead to the latest euro zone inflation data and consider the latest key earnings from the region.

The pan-European Stoxx 600 was last down 0.71% at 9:12 a.m. London time, with sectors and major regional bourses widely trading in negative territory. Retail stocks led losses, shedding 2.45%.

The closely watched preliminary euro zone inflation reading for October will inform the European Central Bank on the trajectory of expected interest rate cuts.

The release comes after economic data published Wednesday showed that the euro zone economy grew 0.4% in the third quarter of 2024, above the 0.2% rise expected by economists polled by Reuters.

There are more earnings Thursday with Shell, Stellantis, Maersk, AB Inbev and Carlsberg reporting.

U.S. stocks were muted Wednesday as traders digested a deluge of earnings results and data showing the economy grew at a slower-than-expected rate in the third quarter. GDP rose at a 2.8% annualized rate, while economists surveyed by Dow Jones had been looking for an increase of 3.1%.

Overnight, U.S. stock futures slid while Asia-Pacific markets slipped as investors reacted to the Bank of Japan's rate hold, as well as key business activity figures from China.

Market movers: Jeronimo Martins rises 9%, Smith & Nephew falls 14%

Shares in Portuguese food distribution and retail company Jeronimo Martins rose 9.2% on Thursday after the company posted better-than-expected third-quarter results. It's net profit came in at 193 million euros ($210 million) for the quarter, which was above the 166 million euros expected by analysts, according to Reuters.

British medical equipment maker Smith & Nephew meanwhile cut its underlying revenue growth expectations for the full year 2024, citing China headwinds. Growth is now expected to be around 4.5%, down from a previously expected range between 5% and 6%. The company's shares were last 13.6% lower.

— Sophie Kiderlin

Societe Generale rises 8% after revenue jump, leadership changes

Shares in France's Societe Generale jumped over 8% shortly after markets opened on Thursday.

The bank on Thursday said that its revenue had jumped 10.5% year-on-year in the third quarter, coming in at 6.8 billion euros ($7.4 billion). Group net income totalled 1.4 billion euros.

The lender also announced several leadership changes on Thursday, including the appointment of Leopoldo Alvear as the group's new chief financial officer, taking over from current CFO Claire Dumas in early 2025.

Societe Generale shares were last up by 8.23% at 8:39 a.m. London time.

— Sophie Kiderlin

French inflation comes in at 1.5% in October

Preliminary data from French statistics office Insee showed that French inflation came in at 1.5% in October, in line with the expectations of analysts polled by Reuters.

Inflation had added 1.4% in September.

The readings are harmonized to ensure comparability across the euro area.

Insee linked the near-stability of inflation to a slowdown of services prices and a less sharp annual fall in energy costs in October, compared to the previous month.

— Sophie Kiderlin

European markets open lower on Thursday

European markets opened lower on Thursday, with the pan-European Stoxx 600 index down 0.65% at 8:04 a.m. London time.

Sectors widely traded in negative territory, with insurance stocks falling 1.42% and retail shares pulling back 1.14%.

— Sophie Kiderlin

German retail sales unexpectedly rise 1.2%

Retail sales in Germany rose 1.2% month-on-month in real terms in September, statistics agency Destatis said Thursday, according to a CNBC translation. Analysts polled by Reuters had been expecting a 0.5% decline.

Food sales fell 0.8% in September from August, Destatis noted.

Separately, German economic institute Ifo on Thursday released its latest business climate in retail survey, saying the indicator came in at negative 25.2 points in October,  compared with minus 25.6 points in September

Retailers considered their current situation had improved slightly, but expectations for the coming months were still depressed, Ifo said.

— Sophie Kiderlin

Dodge maker Stellantis posts 27% drop in revenues, flags progress in slashing U.S. inventories

Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories.

The Netherlands-based company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said that net revenues for the July-September period came in at 33 billion euros ($35.8 billion). Analysts had expected third-quarter net revenues to come in at 36.6 billion euros, according to an LSEG-compiled consensus.

Read the full story here.

— Sam Meredith

Carlsberg posts 0.9% revenue growth in third quarter

Brewer Carlsberg on Thursday reported 0.9% revenue growth in the third quarter of 2024, totalling 20.5 billion Danish krone ($2.98 billion).

"It was a tough quarter, impacted by a challenging consumer environment and weather," Carlsberg CEO Jacob Aarup-Andersen said. The company noted that volumes were lower in China, the U.K. and France.

Carlsberg left its expectations for the full year 2024 unchanged, saying it was anticipating organic growth in its operating profit before special items to come in between 4% and 6%.

— Sophie Kiderlin

Beer giant AB InBev misses third-quarter revenue expectations, but raises outlook

Belgium's beer giant AB InBev on Thursday reported that its total revenue grew 2.1% in the third quarter, coming in short of the 3.4% increase analysts had forecast, according to Reuters.

Volumes also fell by more than expected. The company said it had sold less beer in several key markets including the United States, Mexico and China.

The world's largest brewer nevertheless raised its full-year 2024 outlook, saying it was expecting its organic core profit (EBITDA) to now come in at 6% to 8%, compared with a previous outlook of 4% to 8%.

AB InBev also announced a $2 billion share buyback program over the next 12 months.

— Sophie Kiderlin

Oil giant Shell posts $6 billion profit beat, launches new share buyback program

British oil giant Shell on Thursday posted a small year-on-year drop to a stronger-than-expected third-quarter profit, partly owing to a sharp drop in crude prices and to lower refining margins.

The energy company reported adjusted earnings of $6 billion for the July-September period, beating analyst expectations of $5.3 billion, according to estimates compiled by LSEG.

Read the full story here.

— Sam Meredith

European markets: Here are the opening calls

European markets are expected to open in negative territory Thursday.

The U.K.'s FTSE 100 index is expected to open 14 points lower at 8,145, Germany's DAX down 78 points at 19,184, France's CAC down 12 points at 7,412 and Italy's FTSE MIB down 193 points at 34,110, according to data from IG.

Traders will be keeping an eye on flash euro zone inflation data Thursday, while earnings come from Shell, Stellantis, Maersk, AB Inbev and Carlsberg.

— Holly Ellyatt

Bank of Japan reiterates resolve to keep hiking rates if economy continues to recover

Japan's central bank said it will keep hiking rates if the country's economy continues to recover, the BOJ wrote in its quarterly outlook report.

This comes after the bank held its benchmark policy rate at 0.25% on Thursday.

The report puts Japan's "potential growth rate" at 0.5% to 1%, with the BOJ adding that the country's economy is likely to "keep growing at a pace above its potential growth rate."

However, the BOJ also highlighted that it needs to "pay due attention" to the course of overseas economies, particularly the U.S., as well as developments in capital and financial markets.

— Lim Hui Jie

China's manufacturing activity expands for the first time since April

China's manufacturing purchasing managers index flipped into expansion territory for the first time since April, with the National Bureau of Statistics revealing the manufacturing PMI came in at 50.1.

This beat forecasts from a Reuters poll of economists, who expected the manufacturing PMI to come in at 49.9, a softer contraction than the 49.8 the month before.

The composite PMI stood at 50.8, higher than the 50.4 in August. China's non-manufacturing PMI also came in stronger at 50.2, up from 50.0 the month before.

Read more in the full story here.

— Lim Hui Jie

CNBC Pro: As Diwali begins, these 4 Indian stocks are set to rise over 30%, analysts say

Interest in India has been growing steadily among investors.

As the Diwali festive season gets underway in the South Asian powerhouse, several sectors — and stocks — are expected to do well, analysts say.

Samvat 2081 — which starts on the day of Diwali on Oct. 31 — marks the start of the Hindu new year. It can lead to stock market moves, as some investors view it as a new beginning.

Indian markets made history in Samvat 2080 with the BSE Sensex surpassing 85,900 in September while the benchmark Nifty 50 index is crossed 26,250. Both indexes gained around 25% in the year, analysts from Kotak Securities flagged.

Analysts from Kotak and Mirae Asset revealed four buy-rated Indian stocks with over 30% potential upside they are betting on this Diwali.

CNBC Pro subscribers can read more here.

— Amala Balakrishner