European markets head for higher open as investors gear up for U.S. inflation data

LONDON — European stocks are expected to open higher on Wednesday as investors prepare for the latest reading of U.S. inflation on Friday.

The U.K.’s FTSE index is seen opening 18 points higher at 7,626, Germany’s DAX up 46 points at 14,602, France’s CAC 40 up 24 points at 6,524 and Italy’s FTSE MIB up 59 points at 24,624, according to data from IG.

International markets have pulled back this week amid nervousness over forthcoming U.S. data releases this week, including the latest inflation reading on Friday.

May’s consumer price index in the U.S. is expected to be just slightly cooler than April, and some economists are expecting it could confirm that inflation has peaked.

The University of Michigan consumer sentiment index, also due Friday, will also be closely watched by investors.

Shares in Asia-Pacific rose in Wednesday morning trade as investors look ahead to the Reserve Bank of India’s latest interest rate decision expected later today. Meanwhile, U.S. stock futures fell marginally in overnight trading after two consecutive days of gains on Wall Street.

Earnings come from retailer Inditex in Europe.