European markets are set to open in positive territory on Friday, setting the region’s stocks up for a weekly rise following one of the best trading sessions in four months on Wednesday.
London’s FTSE 100 is expected to open 130 points higher at 8,431, according to IG, while the German DAX index is set to open 6 points higher to open at 20,662. France’s CAC 40 is expected to open 173 points up at 7,648, IG’s figures predict.
Global financial markets were cheered earlier this week by a cooler-than-expected inflation print out of the United States.
Regional investors were also surprised by U.K. data that showed price rises had slowed more than expected.
A further data release from Britain’s Office for National Statistics on Thursday showed that the economy returned to growth in November, with gross domestic product rising 0.1% on a monthly basis after two months of economic contraction. The data fueled hopes that the Bank of England would resume interest rate cuts at its next monetary policy meeting in February.
Elsewhere in the region, the European Commission will finalize figures on euro area inflation. Preliminary data released earlier this month showed that annual inflation in the euro zone rose to 2.4% in December — the bloc’s third consecutive monthly rise.
Spain — one of Europe’s fastest growing economies, according to the OECD — is set to publish import and export figures on Friday morning.
Overnight in Asia, stocks were mixed as investors reacted to China’s fourth-quarter GDP update, which came in above expectations.
On Wall Street, stock futures edged higher, with indexes poised to end the week higher despite some volatility in recent days.
— CNBC’s Lisa Kailai Han and Lee Ying Shan contributed to this European markets update.
