Europe open: Shares edge higher ahead of EZ inflation data
By Frank Prenesti
Date: Friday 06 Jan 2023
(Sharecast News) - European shares rallied at the open on Friday ahead of flash eurozone inflation figures.
The pan-regional Stoxx 600 index was up 0.08% at 0820 GMT with all major bourses higher.
Better-than-expected slowdowns in France, Germany and Italy this week have raised hopes that the European Central Bank will temper its aggressive interest rate rises this year. The December CPI figure is expected to come in at 9.7% on a yearly basis.
In economic news, German retail sales rose in November, increasing by 1.1% compared with the previous month, according to data released on Friday.
Meanwhile, industrial orders in Europe's biggest economy fell more than expected in November, decreasing by 5.3% on the month on a seasonally and calendar adjusted basis, the federal statistics office said.
In equity news, H&M gained after Morgan Stanley raised its price target for the stock.
Reporting by Frank Prenesti for Sharecast.com
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