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Thursday September 29, 2022

European stocks rebound slightly at open

London's FTSE 100 index rose 0.6% to 7,322.04 points after also sliding the previous day on news of elevated UK inflation

By AFP
September 15, 2022
— AFP/file
— AFP/file

LONDON: European stock markets rebounded somewhat at the open on Thursday, after the previous day's heavy losses that were triggered by higher-than-expected US inflation.

London's FTSE 100 index rose 0.6% to 7,322.04 points after also sliding the previous day on news of elevated UK inflation.

In the eurozone, Frankfurt's DAX index advanced 0.4% to 13,078.51 points and the Paris CAC 40 won 0.2% to 6,236.87.

"Investors regained some poise after the effects of the latest inflation shock subsided," said Richard Hunter, head of markets at Interactive Investor.

Asian stocks also edged higher, tracking gains on Wall Street as markets adjusted after a rout over US inflation concerns.

Equities sank Wednesday after data showed US annual consumer price inflation slowed by only 8.3% in August from 8.5% in July.