European stock markets are expected to open largely unchanged Friday, consolidating after withstanding the shock of a sharp rise in U.S. inflation, helped by generally positive corporate earnings.
At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.1% higher, while CAC 40 futures in France dropped 0.1% and the FTSE 100 futures contract in the U.K. fell 0.1%.
European markets closed higher on Thursday, showing underlying strength in coping with a surprisingly strong reading on U.S. inflation, which raised the possibility of the Federal Reserve bringing forward plans to lift interest rates.
The U.S. consumer price index rose 6.2% year-on-year in October, official data showed on Wednesday, the strongest advance since November 1990.
Helping the tone were gains in Asia overnight, aided by signs of consumer confidence as Chinese e-commerce giants Alibaba (NYSE:BABA) and JD.com (NASDAQ:JD) set new sales records across their platforms on Singles Day, the world’s largest shopping event.
Back in Europe, supporting the resilience of the main indices has been the overall strength of the quarterly earnings season in Europe.
The FTSE MIB climbed up by 0.09% to 27,659.20. In the cash markets, the DAX Germany was trading up by 0.15% to 16,107.65. CAC 40 in France rose by 0.41% to 7,087.37 while the FTSE 100 in the U.K. was down by 0.26% to 7,367.35. ,at the time of writing.