LONDON — European markets opened higher Friday as investors weighed the outlook for the economy and looked to fresh data.
The pan-European Stoxx 600 was 0.14% higher shortly after the opening bell, with most sectors in positive territory.
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Preliminary data out of France showed the country's harmonized inflation rate fell sharply in September. Harmonized consumer prices came in at 1.5% in September, down from 2.2% in August, according to the French statistics office Insee. This month's figure is below the European Central Bank's 2% inflation target.
France's CAC 40 index was last 0.29% higher at 8:20 a.m. London time.
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European stocks had closed 1.25% higher on Thursday, tracking gains in Asia-Pacific markets, which were buoyed by China's announcement of stimulus measures earlier in the week.
Chinese markets are on course for their best week in almost 16 years as the mainland's CSI 300 is set for a over 15% rally this week.
Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. On Friday, the People's Bank of China said it was cutting its 7-day reverse repo rate to 1.5%, the second reduction in around three months, and slashed the reserve requirement ratio of financial institutions by 0.5 percentage points.
Money Report
Meanwhile in the U.S., attention turned to the release of August's personal consumption expenditures price index which is slated for Friday. The PCE is the Federal Reserve's preferred inflation gauge. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month.
U.S. stock futures were last little changed ahead of the key data release.
