European stocks traded higher in early trading on Friday, following the fall of indices in the US and Asia, as the outlook for higher interest rates continues to exert strong pressure on global markets.
Wall Street indicators closed yesterday at the low of the day, although they were found to be gaining ground for most of the session. Investors are worried about the prospect of a tighter monetary policy in the US this year, with the Federal Reserve expected to raise four interest rates.
At the same time, the minutes of the last meeting of the European Central Bank set were published yesterday showed that there are deep disagreements within the central bank over the outlook for inflation. Some ECB officials are now worried that even if the inflation rally proves to be temporary, it could cause a sharp acceleration in wage increases leading to a further rise in consumer prices.
On the board, the pan-European Stoxx 600 falls 1.35% to 476.82 points.
The German DAX lost 1.3% to 15,707.08 points, the French CAC-40 fell 1.2% to 7,104.96 points, while the British FTSE 100 fell 1% to 7,512.80 points.
In the periphery, the Italian FTSE MIB loses 1.4%, while the Spanish IBEX 35 falls 1.2%.
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