©Reuters.
Investing.com – European stock markets traded mixed on Friday as investors digested signals from corporate earnings and the European Central Bank's recent meeting ahead of the release of key US inflation data. .
As of 03:10 ET (8:10 p.m. Japan time), German stocks were down 0.2%, while French stocks were up 1.5% and British stocks were up 0.8%.
ECB refrains from rate cut negotiations for the time being
On Thursday, the central bank kept interest rates unchanged at a record high of 4%, and the president twice indicated in an accompanying press conference that it was “premature” to discuss rate cuts, suggesting he was considering starting easing. It didn't even matter.
But he also acknowledged that inflation fell faster than the ECB had expected last autumn, suggesting the time was near for the ECB to start discussing a first rate cut.
A change in tone at the ECB's March meeting, when the bank is expected to release new economic forecasts, could pave the way for a rate cut in June.
Stories like this could help boost consumer confidence, which, judging by the latest German sentiment statistics, is much needed.
The index has fallen to -29.7 points in February from the previous month's revised -25.4 points, suggesting that a sustained recovery in Europe's largest economy is still a long way off.
In the US, it is expected to be announced in the second half of the session center around December, and may provide new insight into future trends in interest rates.
LVMH benefits from resilient demand
In the corporate sector, investors now have more quarterly results to understand.
LVMH (EPA:) shares rose earlier on Thursday as markets reacted to the world's largest luxury goods group posting a 10% increase in fourth-quarter sales, driven by strong demand at higher end prices. Growth was slightly faster than the quarter, up 8%. Let's put an end to the most important year-end fashion.
Remy Cointreau (EPA:) The French spirits maker posted a slightly smaller-than-expected third-quarter sales decline, after a flurry of improvements in the U.S. and major inventory reductions in China ahead of the Lunar New Year. The stock price rose 11% as a result.
Meanwhile, shares in Swedish truck maker AB Volvo (OTC:) fell 2% after the company announced it would gradually cut production following years of supply chain disruptions.
Crude oil is on track for a significant rise this week
Oil prices fell on Friday, regaining some of the big gains from the previous session, but were still up sharply for the week on the back of healthy economic growth in the US and signs of Chinese stimulus. Masu.
By 3:10 a.m. ET, futures were trading 0.8% lower at $76.74 a barrel, after rising to their highest since December during the previous session, with the contract down 0.5%. 1 barrel = 82.00 dollars.
Both oil indexes remained on track to rise more than 4% on Thursday after the U.S. economy expanded faster than expected in the fourth quarter, signaling economic resilience from the world's biggest oil consumer. This was the largest weekly increase since October.
China, the world's second-largest oil consumer, also announced earlier in the week that it would sharply cut bank reserves to boost economic growth amid continued disruptions to oil supplies in the Red Sea.
It also rose 0.1% to $2,020.10 an ounce, while trading 0.2% lower at $1.0820.
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