PARIS (Reuters) – European stock markets advance at the opening on Friday, supported by the hope that the disinflationary dynamic will prove stronger than expected in the euro zone.
In Paris, the CAC 40 advanced 0.7% to 7,165.73 points around 07:25 GMT. In Frankfurt, the Dax gained 0.71%, compared to 0.55% for the FTSE in London.
The pan-European FTSEurofirst 300 index takes 0.55%, the EuroStoxx 50 0.78% and the Stoxx 600 0.96%.
Futures on New York indices suggest Wall Street opening in the green, with the Dow Jones gaining 0.26%, compared to 0.21% for the Standard & Poor’s 500 and 0.34% for the Nasdaq.
European markets are rising ahead of the release of crucial eurozone inflation data, scheduled for 09:00 GMT.
The consensus expects a decline in price dynamics to 4.5% in September, compared to 5.2% in August, expectations reinforced Thursday by the publication of inflation in Germany, which slowed faster than expected by the economists.
In France, inflation also surprised on the downside by remaining stable at 4.9% year-on-year in September, with economists expecting a resumption of price dynamics with the rise in oil prices.
Markets will also be on the lookout for PCE inflation data in the United States, the Federal Reserve’s favorite price dynamics indicator expected to rise slightly, and which will be published at 12:30 GMT.
In terms of values, the luxury sector drives the indices, with LVMH and Hermes gaining 3.0% and 2.09% respectively.
Adidas climbed 5.2% after its competitor Nike reported better-than-expected quarterly results on Thursday.
(Written by Corentin Chappron, edited by Blandine Hénault)
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