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European stock markets open higher before US inflation

AFP . Paris
11 Sep 2024 14:21:43 | Update: 11 Sep 2024 14:21:43
European stock markets open higher before US inflation
— Representational Photo

European stock markets rebounded at the open on Wednesday ahead of US inflation figures and on the eve of an expected interest-rate cut by the European Central Bank.

London's FTSE 100 gained almost 0.1 per cent to 8,211.56 points despite official data showing the UK economy posted zero growth again in July.

The Paris CAC 40 was up 0.3 per cent to 7,428.91 points while the Frankfurt DAX also rose 0.3 per cent to 18,324.49.

Investors are looking ahead to US consumer inflation data due later on Wednesday which could shed light on the size of a widely-expected rate cut by the Federal Reserve next week.

The ECB will is also expected to reduce its own borrowing costs on Thursday, its second cut this year.

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