(Reuters) – European shares opened higher on Friday as higher prices lifted energy stocks, although focus also focused on U.S. inflation, which could play a key role in determining the path of global monetary policy.
The pan-European index was up 0.4% as of 0710 GMT after closing lower for the past three sessions.
Energy stocks rose 1%, tracking gains in oil prices, while bank shares rose 0.8% early in the session. [O/R]
US personal consumption expenditures (PCE) data – the Federal Reserve’s preferred measure of inflation – is due out at 1230 GMT and could play a key role in assessing the central bank’s interest rate outlook.
On the continent, consumer prices in France rose 2.5% year-on-year in June, in line with expectations, according to preliminary data.
Among individual stocks, Nokia (HE:) rose 3.5% after the Finnish firm agreed to buy Infinera (NASDAQ:) Corp in a deal valued at $2.3 billion.
Major British sportswear retailer JD (NASDAQ:) Sports fell more than 5% after shares of the American retailer fell. Nike (NYSE:) forecast a surprise drop in revenue in 2025.