European stock markets traded in a mixed fashion Thursday, helped by strong German retail sales ahead of the release of key eurozone inflation data for November.
At 03:15 ET (08:15 GMT), the DAX index in Germany traded 0.2% higher, the CAC 40 in France traded up 0.2%, while the FTSE 100 in the U.K. fell 0.2%.
European stocks have had a good November, with the German DAX over 9% higher, as easing inflation has boosted talk that the European Central Bank is done with aggressive rate hikes.
Eurozone inflation in focus
his sentiment was boosted Thursday by the news that German retail sales rose more than expected in October, increasing by 1.1% compared with the previous month, offering hope that the eurozone’s largest economy may be recovering as the year draws to an end.
Germany has been among the weakest economies in Europe this year, and its economy shrank slightly in the third quarter compared with the previous three months.
However, the day’s key economic release will be the preliminary eurozone consumer price index, with investors looking for further signs that regional inflation is retreating.
German inflation eased to 2.3% in November, significantly more than the 2.6% expected, and this is expected to drive another reduction in the monthly eurozone figure.