Europe: Stocks climb at open before US inflation data

[LONDON] Europe's main stock markets rose at the open Wednesday with all eyes on the latest US inflation reading.

London's benchmark FTSE 100 index climbed 0.5 per cent to 7,529.64 points.

In the eurozone, Frankfurt's DAX index gained 0.6 per cent to 16,039.80 points and the Paris CAC 40 rose 0.6 per cent to 7,228.57.

US Federal Reserve chief Jerome Powell on Tuesday said he was determined to rein in runaway inflation, as markets prepare for an official update Wednesday on cost pressures in the world's biggest economy.

Meanwhile data out of China on Wednesday showed the country's inflation had eased, handing policymakers room for measures to kickstart its stuttering economy including interest rate cuts, according to analysts.

AFP