(Reuters) – The main European stock markets are stable at the start of the session on Wednesday, after reaching record levels the day before, as investors await key data on inflation on both sides of the Atlantic.
In Paris, the CAC 40 gained 0.06% to 8,180.14 points around 08:57 GMT. In London, the FTSE 100 gained 0.23% and in Frankfurt, the Dax advanced 0.14%.
The EuroStoxx 50 index is up 0.07%, the FTSEurofirst 300 is up 0.03% and the Stoxx 600 is up 0.02%.
The European stock markets are moving on small variations, all eyes being on the publication of the American PCE price index on Friday and the week being shortened by the long Easter weekend.
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In Europe, the rise in prices also remains in the spotlight: investors learned on Wednesday that Spanish inflation harmonized with European standards had increased by 3.2% year-on-year in March, compared to 3.3% expected by analysts and after an increase of 2.9% in February, according to preliminary data published by the National Institute of Statistics (INE).
France, the second largest economy in the euro zone, is due to publish its inflation figures for March on Friday.
This data will be interpreted in light of recent signals from major central banks that rates will soon be cut if price developments follow the expected path.
In Sweden, the central bank on Wednesday as expected kept its main key rate unchanged at 4.00%, adding that it would probably start easing its monetary policy in May or June, if the inflation outlook remained favorable.
Eurozone consumption and economic sentiment data for March will be released later today.
In terms of values, the fashion distributor H&M, which reported on Wednesday a profit for the December-February period higher than expectations, gained 13%.
The group helps the European distribution sector, which grew by 1.75% and recorded the strongest increase in the STOXX.
In London, DS Smith shares jumped 7.4% after the British packaging solutions provider said it was in talks with International Paper for a share offer valued at 5.72 billion of pounds (6.6 billion euros).
(Writing by Diana Mandiá, editing by Kate Entringer)
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