European benchmarks rose Friday after Asian shares mostly declined on looming worries over US banks and lagging demand from China, the region’s major driver of growth.
France’s CAC 40 rose 1.0 per cent in early trading to 7,451.96. Germany’s DAX added 0.6 per cent to 15,931.25. Britain’s FTSE 100 gained 0.5 per cent to 7,767.52.
US shares were set to drift higher with Dow futures up 0.4 per cent to 33,507.00. S&P 500 futures added 0.4 per cent to 4,160.50. Oil prices fell while currencies traded in a narrow range.
Asian equities struggled for direction after weak inflation data in China pointed to weakening demand, said Stephen Innes, managing partner at SPI Asset Management.
Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth following an initial jump after the nation dropped pandemic-related restrictions, he said.
Japan’s benchmark Nikkei 225 gained 0.9 per cent to finish at 29,388.30 as companies like Nissan Motor Co. ..
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