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European stocks climb at open after more US records

August 13, 2021: Europe's main stock markets climbed at the start of trading Friday following fresh records on Wall Street overnight.

London's benchmark FTSE 100 index grew 0.3 percent to 7,215.03 points.

In the eurozone, Frankfurt's DAX 30 index rose 0.1 percent to 15,956.83 points and the Paris CAC 40 won 0.2 percent to 6,893.69.

Major US stock indices again closed at all-time records Thursday as investors shrugged off data showing a jump in American wholesale prices.

The data added to expectations the Federal Reserve will shift course and pull back on its stimulus efforts, starting with a slowdown in the pace of bond buying.

The first signal of a move could come as soon as this month when Federal Reserve chief Jerome Powell is due address the annual central banking conference in Jackson Hole, Wyoming.

But the market has taken the expected shift in stride, viewing the inflation data as unsurprising. The producer price report comes on the heels of Wednesday's consumer price index which showed inflation moderating in July.

In Asia, Tokyo's benchmark Nikkei index closed lower on Friday on worries over rising coronavirus cases in Japan, traders said.

AFP/APP

Posted on: 2021-08-13T13:20:00+05:00

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