© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 29, 2024. REUTERS/Staff/File Photo
(Reuters) – European shares kicked off the month higher on Friday, buoyed by strength in global equities after favourable U.S. inflation data, while investors hope for a similar downward trend in euro zone inflation for fresh clues on monetary policy easing.
The pan-European was up 0.4% by 8:11 GMT, but was on track for its first weekly slide in over six.
Stock markets are in a fairly buoyant mood as U.S. benchmark and Nasdaq closed at record highs on Thursday, following in-line U.S. inflation figures, and a boost in AI-linked tech stocks such as Nvidia (NASDAQ:).
Hopping on the bandwagon, technology index led sectoral gains, with a 1.1% rise.
Due at 1000 GMT, euro zone February consumer prices should show the region’s inflation, which soared to double-digits in 2022, is moving back towards its 2% target.
In corporate updates, Daimler (OTC:) Truck surged more than 11% after the German truck maker raised its dividend and announced a share buyback program on the back of better-than-expected pre-tax 2023 earnings.