European stocks opened higher Friday, defying a broader selloff, with fresh inflation data set to land.
The regional Stoxx 600 index was up 0.3% at 8:10 a.m. in London even as the MSCI World Index of global stocks dipped. Telecom stocks rose 0.95% led by Ericsson, which jumped 8% after reporting a smaller revenue decline than analysts expected.
However, technology stocks took their cues from Wall Street, retreating 0.3% after a choppy session in which investors rotated out of the “Magnificent Seven” into the rest of the market.
Reaction to the historic French and U.K. elections dominated the start of the week, but attention has moved to a flurry of inflation data.
On Thursday, the U.S. consumer price index declined more than expected to 3% annually, down from 3.3% in May.
Source : CNBC
