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Europe: Stock markets rebound at open

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[LONDON] Europe's main stock markets rebounded at the start of trading on Wednesday, with traders digesting news of solid German economic growth as they awaited key US inflation figures.

London's benchmark FTSE 100 index climbed 0.7 per cent to 7,220.78 points compared with the close on Tuesday.

In the eurozone, Frankfurt's DAX 30 gained 0.8 per cent to 12,294.85 points and the Paris CAC 40 won 0.6 percent to 5,137.57 - after falling by similar amounts the previous session.

Germany, Europe's largest economy, expanded 0.6 per cent between October and December, official data showed Wednesday, highlighting the country's economic strength as politicians struggle to form a government.

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Investors were meanwhile awaiting US inflation numbers for clues on the pace of interest rate rises in the world's biggest economy.

Global stock markets have tumbled in recent weeks, wiping out previous strong gains, largely on concerns that high US inflation will force the Federal Reserve to tighten the cost of borrowing faster than anticipated this year.

AFP

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