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European stocks look set to open on a steady note Friday despite weak cues from Wall Street and Asia. Asian stocks were broadly lower, with Hong Kong markets shut due to a tropical storm.
European stocks are seen opening on a subdued note Thursday amid jitters over inflation and interest rate hikes. Investors may assess risks to inflation from rising oi prices, with crude oil breaching the $90 per barrel mark after oil producing countries agreed to extend supply cut till December this year.
European stocks were seeing modest gains on Thursday after declining for six straight sessions. Buying support emerged at lower levels after data showed Chinese exports and imports shrank less than expected in August.
The major European markets ended on a mixed note on Thursday with investors largely making cautious moves, digesting the latest batch of economic data, and assessing the policy stance of major central banks.
Disappointment over weak economic data from Europe and elsewhere dampened equity market enthusiasm, dragging the CAC-40 more than 0.75 percent..