Investing.com - European stocks opened slightly higher on Friday, as markets were eyeing euro zone inflation later in the day, as well as ratings changes from Standard & Poor's credit ratings agency.
During European morning trade, the EURO STOXX 50 edged 0.08% higher, France’s CAC 40 added 0.08%, while Germany’s DAX 30 inched up 0.02%.
Investors were eyeing upcoming preliminary euro zone inflation data, amid expectations that the annual rate of inflation would rise to 0.8% in November, from October’s four year low of 0.7%.
Concerns over mounting deflationary pressures in the euro area prompted the European Central Bank to cut interest rates to a record low 0.25% at its November meeting.
Meanwhile, S&P lowered its credit rating for the Netherlands to "AA plus" from "AAA", while lifting its outlook for Spain and Cyprus.
The ratings agency raised its credit rating for Cyprus to "B-/B" from "CCC plus/C" and revised its credit ratings outlook for Spain to stable from negative.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale gained 0.62% and 0.56%, while Germany's Deutsche Bank added 0.11%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.27% and 0.63% respectively, while Italy's Intesa Sanpaolo and Unicredit advanced 0.47% and 0.60%.
Elsewhere, EDF shares edged up 0.11% as the company was said to be competing with GDF Suez to develop two 500-megawatt wind projects off northwestern France, as the country expands clean-energy output. GDF Suez was up 0.35%
In London, commodity-heavy FTSE 100 rose 0.19%, boosted by sharp gains in mining stocks.
Shares in Rio Tinto gained 0.87% and Antofogasta jumped 1.40%, while rivals Fresnillo and Vedanta Resources rallied 1.44% and 1.88% respectively.
Financial stocks were also mostly higher, as HSBC Holdings added 0.18% and Lloyds Banking rose 0.23%, while advanced 0.70%. The Royal Bank of Scotland underperformed however, down 0.13%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.26% rise, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.40% increase.
Later in the day, the euro zone was to release preliminary data on consumer inflation and a separate report on the unemployment rate across the currency bloc.
During European morning trade, the EURO STOXX 50 edged 0.08% higher, France’s CAC 40 added 0.08%, while Germany’s DAX 30 inched up 0.02%.
Investors were eyeing upcoming preliminary euro zone inflation data, amid expectations that the annual rate of inflation would rise to 0.8% in November, from October’s four year low of 0.7%.
Concerns over mounting deflationary pressures in the euro area prompted the European Central Bank to cut interest rates to a record low 0.25% at its November meeting.
Meanwhile, S&P lowered its credit rating for the Netherlands to "AA plus" from "AAA", while lifting its outlook for Spain and Cyprus.
The ratings agency raised its credit rating for Cyprus to "B-/B" from "CCC plus/C" and revised its credit ratings outlook for Spain to stable from negative.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale gained 0.62% and 0.56%, while Germany's Deutsche Bank added 0.11%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.27% and 0.63% respectively, while Italy's Intesa Sanpaolo and Unicredit advanced 0.47% and 0.60%.
Elsewhere, EDF shares edged up 0.11% as the company was said to be competing with GDF Suez to develop two 500-megawatt wind projects off northwestern France, as the country expands clean-energy output. GDF Suez was up 0.35%
In London, commodity-heavy FTSE 100 rose 0.19%, boosted by sharp gains in mining stocks.
Shares in Rio Tinto gained 0.87% and Antofogasta jumped 1.40%, while rivals Fresnillo and Vedanta Resources rallied 1.44% and 1.88% respectively.
Financial stocks were also mostly higher, as HSBC Holdings added 0.18% and Lloyds Banking rose 0.23%, while advanced 0.70%. The Royal Bank of Scotland underperformed however, down 0.13%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.26% rise, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.40% increase.
Later in the day, the euro zone was to release preliminary data on consumer inflation and a separate report on the unemployment rate across the currency bloc.