(Reuters) – European stocks opened higher on Friday, as rising prices lifted energy stocks, but focus was also on the inflation reading in the United States, which may be key in gauging the path of global monetary policy.
The European index rose 0.4% by 0710 GMT, after closing lower during the past three sessions.
Energy stocks rose 1%, tracking higher crude oil prices, while banking stocks advanced 0.8% early in the session. (O/R)
US personal consumption expenditures data – the Federal Reserve’s preferred measure of inflation – is due at 1230 GMT and could play a key role in gauging the central bank’s interest rate outlook.
On the continent, French consumer prices rose 2.5% year-on-year in June, in line with expectations, according to preliminary data.
Among individual stocks, Nokia (HE:) added 3.5% after the Finnish company agreed to buy Infinera (NASDAQ:) Corp in a deal with an enterprise value of $2.3 billion.
Britain’s largest sportswear retailer JD (NASDAQ:) Sports fell more than 5% after being based in the United States. Nike (NYSE:) expect a surprise revenue decline in 2025.