European stock markets are moving positively on Wednesday, following gains in Wall Street and Asia as investors prepare for the latest US inflation measure.
Global markets are waiting for the next US inflation measure to assess the Federal Reserve’s next moves. The governor of the Fed, Jerome Powell, speaking yesterday in a Senate committee, clarified that if inflation persists at higher levels than expected, the central bank should raise its interest rates further.
“We know that high inflation has a serious impact,” Powell said, adding that he was committed to using all of the central bank’s tools to prevent inflation from “consolidating.”
Analysts do not rule out that the US Federal Reserve will make four rate hikes this year in order to curb inflation that has soared to near 40-year highs. According to analysts’ average estimates, the data to be released today will show a new annual jump in inflation close to 7% for December.
On the board, the pan-European Stoxx 600 index is up 0.6% at 485.90 points.
The German DAX rose 0.7% to 16,047.63 points, the French CAC 40 also gained 0.7% to 7,233.73 points, while the British FTSE 100 strengthened 0.5% to 7,528.61 points.
In the periphery, the Italian FTSE MIB gained 0.5%, while the Spanish IBEX 35 gained 0.4%.
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