Europe: Stocks gain at open as investors track inflation data

[LONDON] Europe's main stock markets rose slightly at the start of trading on Wednesday as investors focus on more evidence of inflation surging globally.

London's benchmark FTSE 100 index gained 0.2 per cent to 7,289.60 points.

In the eurozone, Frankfurt's DAX index was up 0.1 percent to 16,050.29 points and the Paris CAC 40 climbed 0.1 per cent to 7,053.28.

China's factory-gate inflation hit a 26-year high in October while fresh virus outbreaks and soaring food and energy prices sent consumer prices rising more than forecast.

The official data released on Wednesday came one day after the US revealed that its wholesale prices remained high last month and showed signs of accelerating again.

Inflation is surging worldwide as economies reopen following pandemic lockdowns.

AFP