Europe stocks slip after U.S. inflation print comes in above expectations; Encavis up 25%

This is CNBC's live blog covering European markets.

European markets slipped on Thursday afternoon, as investors assessed another key U.S. inflation reading for February.

The pan-European Stoxx 600 index was 0.1% lower at 2 p.m. in London, shedding the morning's cautious gains. Household goods rose 0.6%, as miners fell 1.4%.

The U.S. producer price index, which measures wholesale inflation, was released ahead of the U.S. trading session. The gauge jumped 0.6% on the month, above the 0.3% forecast from Dow Jones and follows a 0.3% increase in January.

The PPI report is the last major piece of economic data to be released prior to the U.S. Federal Reserve's next policy meeting on March 19-20.

U.S. stock futures inched higher on Wednesday night while Asia-Pacific markets were largely range-bound on Thursday, with investors focused on Japan's spring wage negotiations and India's wholesale inflation data.

— CNBC's Lisa Kailai Han contributed to this market report.

British homebuilder Vistry Group was 8% higher at 1:45 p.m. in London, after reporting a 30% rise in revenue and an increase in operating profit to £488 million ($623 million) for full-year 2023 from £451 million in the previous 12-month stretch.

Property stocks have been buoyed by positive signs from the U.K. housing market, as a survey from the Royal Institution of Chartered Surveyors indicated optimism surrounding sales and pricing. U.K. house prices fell far less than expected last year, with the average declining by 1.4%, according to the Office for National Statistics.

AB InBev, the world's biggest brewer, slipped 4% after U.S. tobacco firm Altria, the maker of Marlboro, on Wednesday said it plans to sell 35 million shares in the firm. It currently holds around