European stock markets are trending positive ahead of Eurozone inflation data, which is expected to give a clue about the economic impact of the US/Israel-Iran War on Europe.
While diplomatic messages from the Middle East are in the focus of the markets, contradictory statements from the parties cause the markets to remain cautious.
In particular, the news flow regarding the Strait of Hormuz is of critical importance in terms of global inflation expectations through oil prices and the interest rate path of central banks.
With these developments, as of 10.45 in European markets, the Stoxx Europe 600 indicator index is at 626 points, with an increase of 0.7 percent, and the FTSE 100 index in the UK is at 10,362 points, with an increase of 0.3 percent.
In Germany, the DAX 40 index is at 25,229 points with a 0.9 percent gain in value, in Italy the FTSE MIB 30 index is at 50,273 points with a 1 percent premium, in France the CAC 40 index is at 8,207 points with a 0.8 percent increase, and in Spain the IBEX 35 index is at 18,311 points with a 0.7 percent gain in value.
Analysts stated that Consumer Price Index (CPI) data in the Euro Zone and JOLTS job vacancy data in the USA will be followed today, and stated that the Euro Zone CPI data may be decisive on the direction of European markets.
