Heavy rain clouds pass over the city of London skyline on September 23, 2024 in London, United Kingdom.
Dan Kitwood | Getty Images News | Getty Images
European markets are expected to open slightly higher on Friday as investors take in U.S. inflation data and look ahead to a highly anticipated fiscal stimulus from China.
The U.K.’s FTSE 100 index is poised to open 19 points higher at 8,254, Germany’s DAX 23 points higher at 19,228, France’s CAC up 15 points at 7,559 and Italy’s FTSE MIB 11 points higher at 33,943, according to data from IG.
On the data front, U.K. gross domestic product (GDP) figures for August are scheduled for release around 7 a.m. London time.
Asia-Pacific markets mostly traded higher on Friday, breaking ranks with U.S. stocks, which saw key benchmarks dip overnight as investors reacted to a hotter-than-expected U.S. inflation report.
China’s CSI 300 blue chip index was down 2.1%, as the stimulus-fueled rally continues to lose steam. Hong Kong markets were closed on Friday for a public holiday.
China’s Ministry of Finance is scheduled to hold a news conference on Saturday, with investors on tenterhooks as Beijing is widely expected to unveil fresh stimulus measures.
Analysts have described the briefing session as China’s “whatever it takes” moment, saying policymakers appear poised to deliver drastic action in order to stimulate its ailing economy.
European stocks closed slightly lower on Thursday, with most sectors and major bourses in negative territory.
