PARIS: European stock markets diverged in opening deals on Friday before the release of US and eurozone inflation data that could shed light on the path of interest rates in the two major economies.
The Frankfurt DAX fell by almost 0.1 percent to 18,898.11 points, a day after closing at a record high.
The Paris CAC 40 rose by 0.3 percent to 7,662.91 points despite revised figures showing the French economy grew less than previously estimated in the second quarter at 0.2 percent.
Inflation in France, however, slowed to 1.9 percent, falling under the European Central Bank’s two-percent target for the first time since August 2021.
Inflation data helps European stocks shake off Nvidia results
London’s FTSE 100 gained 0.3 percent to 8,406.77.
Eurozone inflation figures are due later in the day and could fuel expectations of an ECB rate cut next month.
The US Federal Reserve’s preferred inflation indicator is also due later on Friday and could give an idea of the possible size of an expected rate cut in September.
Source: Brecorder
