This picture taken in Paris on March 3, 2024 shows the silhouette of the Eiffel Tower and the city skyline against a cloudy weather. (Photo by Stefano RELLANDINI / AFP) (Photo by STEFANO RELLANDINI/AFP via Getty Images)
Stefano Rellandini | Afp | Getty Images
LONDON — European stocks opened in the green on Friday, rounding off a choppy week that has delivered a host of new information for investors to process.
The Stoxx 600 index was 0.1% higher in early deals as sectors traded mixed, with health-care stocks up 0.5% as utilities dipped 0.3%. The regional benchmark is nonetheless on course for one of its worst weeks of the year so far.
European markets
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 8,163.83 | +0.16 | 0.00% |
| .GDAXI | DAX | 18,228.32 | -37.36 | -0.20% |
| .FCHI | CAC 40 Index | 7,623.14 | -84.88 | -1.10% |
| .FTMIB | FTSE MIB | 33,247.41 | -362.44 | -1.08% |
| .IBEX | IBEX 35 Idx | 11,028.30 | -37.80 | -0.34% |
Stateside, two sets of inflation data — the consumer price index and the producer price index — both came in softer than expected, boosting U.S. stocks. Between those readings, the Federal Reserve held interest rates steady and revised its outlook for interest rate cuts to just one in 2024.
Money market pricing continues to suggest expectations for two 25 basis point reductions from the current 5.25%-5.5% range before the end of the year, according to LSEG data.
The start of the week was dominated by market reaction to elections to the European Union’s parliament, in which far-right parties made gains, as had been forecast. But a jolt came from French President Emmanuel Macron’s surprise decision to call domestic parliamentary elections, with investors spooked by the possibility of victory for the populist, far-right National Rally party.