European markets opened higher on Friday, pushing the region’s shares higher for the week One of the best trading sessions in four months Wednesday.
IG expects London’s FTSE 100 to open 130 points higher at 8,431 points, while Germany’s DAX is expected to open 6 points higher at 20,662 points. IG data predicts that France’s CAC 40 index is expected to open up 173 points to 7,648 points.
Earlier this week, global financial markets cheered after U.S. economic data came in below inflation.
British data showed price rises slowed more than expected, surprising regional investors.
Further data released by the Office for National Statistics on Thursday showed that the economy Growth resumes in NovemberAfter two months of economic contraction, gross domestic product increased 0.1% from the previous quarter. The data fueled hopes that the Bank of England will resume interest rate cuts at its next monetary policy meeting in February.
On Friday, the UK will release new economic data, along with December retail sales data.
Elsewhere in the region, the European Commission will finalize euro zone inflation data. Preliminary data released earlier this month showed annual euro zone inflation rose to 2.4% in December, marking the third consecutive month of increases in the euro zone.
Spain – one of the fastest growing economies in Europe, According to the Organization for Economic Co-operation and Development — Import and export data are scheduled to be released on Friday morning.
Overnight in AsiaStocks were mixed as investors reacted to China’s fourth-quarter GDP update. Exceeded expectations.
On Wall Street, stock index futures edged higher, with indexes still expected to end the week higher despite some volatility in recent days.
— CNBC’s Lisa Kailai Han and Lee Ying Shan contributed to this European market update.
