European markets: inflation data rattles sentiment

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LONDON — European stocks are expected to bounce back at the open on Wednesday after euro zone inflation data on Tuesday rattled market sentiment in the region.

London’s FTSE is seen opening 31 points higher at 7,139, Germany’s DAX 63 points higher at 15,866, France’s CAC 40 up 40 points at 6,705 and Italy’s FTSE MIB 80 points higher at 26,097, according to IG.

The positive open comes after markets were rattled on Tuesday following the release of euro zone inflation data for August which showed consumer prices increased by 3% this month from a year ago, according to preliminary estimates. This was far above expectations and the European Central Bank’s 2% target. The data will put pressure on the central bank to address inflation concerns at a key meeting next week.

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