European shares open lower as real estate stocks fall ahead of U.S. CPI data

European shares edged lower at the open on Thursday, with real estate stocks leading declines, ahead of a closely watched reading on U.S. inflation to determine whether the Federal Reserve's aggressive monetary policy has taken hold.

The pan-European STOXX 600 index fell 0.3% by 0814 GMT, after snapping a three-day winning streak on Wednesday.

European real estate stocks slid 1.7%, leading sectoral declines, with German housing group LEG Immobilien shedding 6.8% after slightly lowering its profit forecast for this year on rapidly increasing construction costs, rising interest rates and high energy prices.

In a bright spot, shares of Knorr Bremse advanced 5.3%, briefly to the top of the STOXX 600 after the German braking systems maker reported better-than-expected third quarter earnings.

As the U.S. midterm elections continued with no final results, investors looked towards U.S. consumer prices data later in the day, which will likely show a slowing in both the monthly and yearly core numbers for October, according to a Reuters poll.