PARIS: Europe’s main stock markets pushed higher at the start of trading on Thursday as investors take in stride data showing US inflation is ticking higher.
London’s benchmark FTSE 100 index climbed 0.4 percent from Wednesday’s close to 7,244.31 points.
In the eurozone, Frankfurt’s DAX 30 gained 0.7 percent to 12,425.45 points and the Paris CAC 40 won 0.6 percent to 5.195,06.
Global stock markets have tumbled in recent weeks, wiping out previous strong gains, largely on concerns that high US inflation will force the Federal Reserve to tighten the cost of borrowing faster than anticipated this year.
Despite data released showing that US inflation is indeed picking up, stocks nevertheless moved higher as other data showed a dip in retail sales, which investors saw as a mitigating against the Fed needing to raise interest rates faster.
Source: Brecorder.com
