Europe opens higher as inflation fears subside

Thursday, 25. February 2021 09:01

European equities opened in the green on Thursday as Federal Reserve Chairman Jerome Powell managed to ease inflation fears in the market.

Powell struck a dovish tone during his testimony on Capitol Hill this week, arguing that the Fed's accommodative policy is set to continue due to high unemployment in the United States. On the data front, German research institute GfK forecast an improvement in consumer sentiment in Europe's largest economy for next month.

The DAX advanced 0.50% in the first moments of trading. Infineon was the strongest performer in Frankfurt. Meanwhile, the CAC 40 opened 0.45% higher with STMicroelectronics leading the gains. The FTSE 100 rose 0.46%; Rolls Royce Holingds surged 5.54% to the top of the chart.

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Author:
Breaking the News / JC