European markets are cautious in the last session of the week, continuing to look for direction as investors globally assess the recent data on rising inflation to new highs, as well as corporate results.
More specifically, the spike in inflation in the US and China has hit the investment psychology worldwide this week, with investors in Europe now looking to price trends on the continent.
It is worth noting that economists in a Reuters poll on Thursday estimate that inflation in the eurozone will continue to move above the 2% target set by the European Central Bank in 2022. It is noted that eurozone inflation has exceeded 4 % last month, however, the ECB has diversified from other major central banks by continuing to resist pressure to tighten its monetary policy.
Investors, meanwhile, continue to monitor corporate earnings, with AstraZeneca and Deutsche Telekom among those announcing quarterly financial figures before the start of the session.
On the board, the pan-European Stoxx 600 rose slightly by 0.06% to 485.60 points, with the household goods sector strengthening by 1.7% and the oil and gas sector declining by 0.4%, while the Euro Stoxx 50 is up 0.04% at 4,359.93 points.
In Frankfurt the DAX index recorded marginal gains of 0.04% at 16,089.50 points, in Paris the CAC 40 strengthened by 0.22% to 7,074.91 points, while in London the FTSE 100 is 0.31% lower at 7,361 .40 units.
In the periphery, the FTSE MIB index in Milan loses 0.10%, while in Madrid the IBEX 35 “loses” 0.32%.
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