This is a live blog from CNBC covering European markets.
European stock markets are expected to open in positive territory on Thursday after global markets rose on relief after weaker-than-expected U.S. inflation data.
Data released Wednesday showed the U.S. consumer price index rose 0.3% in April, lower than the Dow Jones Industrial Average expected for a 0.4% rise. Consumer prices remained in line with market expectations, rising 3.4% from a year ago, but the data led traders to believe the US Federal Reserve could start cutting interest rates in the near future. I'm strengthening my view.
Asia-Pacific markets rose on Thursday after Wall Street benchmarks closed at record highs overnight on inflation data. US stock futures were almost flat last night.
CNBC Pro: Citi names one lesser-known stock to buy for the AI opportunity and gives it 22% upside.
Citi recently named a lesser-known company as an acquisition target for “data and AI opportunities.”
Citi noted that the company said its total addressable market has tripled thanks to artificial intelligence opportunities.
CNBC Pro subscribers can read more here.
— Tan Weizhen
Inflation remains “frustratingly high,” says Bankrate's Hamrick.
Mark Hamrick, senior economist at Bankrate, said April's consumer price index showed a slight easing in inflation and, unlike the disappointing high in March, there were “no nasty surprises”. said he was welcomed.
That said, he noted that interest rates will still remain high for an extended period of time.
“Overall growth is 3.4% year-over-year and core (excluding food and energy) growth is 3.6%, which remains frustratingly high,” Hamrick said. “Given the situation in the fight against inflation, it is necessary for interest rates to continue rising in the short term.”
— Michelle Fox
CNBC Pro: India's mid-cap stocks are in a 'bubble', investor says – and names the only stock he owns
Contrarian fund manager Jonathan Pines says India's mid-cap stocks are in a “bubble” despite the country's promising economic outlook.
Pines, who runs Federated Hermès' $3.1 billion Asia ex-Japan fund, believes there is a disconnect between the country's growth potential and current stock market valuations.
The contrarian fund manager pointed to mid-cap stocks that are up 240% despite declining sales and profits.
But he also named the only Indian stock he owns and said, “Compared to other stocks in India, it's a great value.”
CNBC Pro subscribers can read more here.
— Ganesh Rao
European Market: Click here for opening call
European markets are expected to open higher on Thursday.
According to IG data, the UK's FTSE 100 index rose 22 points to 8,442, Germany's DAX rose 26 points to 18,896, France's CAC rose 7 points to 8,244 and Italy's FTSE MIB rose 64 points to open at 35,091. It is expected that
Proceeds are expected to come from Swiss Re, Zurich Insurance, Siemens, Deutsche Telekom, BT, EasyJet and others. No major data released.
— Holly Ellyatt