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European markets open slightly higher ahead of another key U.S. inflation reading

·1 min

European markets opened higher on Thursday, with investors keenly awaiting the release of the U.S. inflation reading for February. The pan-European Stoxx 600 index was up 0.1% in early trading, with food and beverage stocks leading gains and mining stocks declining. The producer price index, a measure of wholesale inflation, is set to be released before the U.S. trading session begins. Economists expect headline PPI to have climbed by 0.3% in February. The report is the last major economic data release before the U.S. Federal Reserve’s policy meeting in March. In other news, Deliveroo reported a loss of £31.8 million in its full-year results, moving closer to profitability compared to the previous year. The company’s adjusted earnings reached £85.4 million, surpassing prior guidance. Deliveroo expects adjusted earnings between £110-130 million for 2024. European stock markets continue to rise, with the STOXX Europe 600 index hitting 500 points for the first time and achieving consecutive positive returns for seven weeks. Asset manager Jason Hsu sees potential in Chinese stocks, highlighting their discounted prices. European markets are expected to open in negative territory, with the UK’s FTSE 100 index projected to remain unchanged.