European stocks are seen opening lower on Thursday after steeper than expected increase in prices reported by China sparked fresh worries of further policy tightening from Beijing.
Chinese consumer inflation increased 2.7% from a year earlier in February, the National Bureau of Statistics said, exceeding expectations for a 2.5% increase following the 1.5% growth in the previous month.
Asian stock markets were mostly lower on Thursday as weaker-than expected Japan's economic growth in the fourth quarter along with a slight increase in Australia's jobless rate in February raised doubts about the outlook for major economies.
The U.S index futures also fell, further dampening investor sentiment. However, Japan's Nikkei average rose 0.96% to close at a seven-week high, led by exporters and iron-ore producers.
Crude oil prices fell below $82 a barrel in Asian trading Thursday, taking cues from the stronger dollar and lower regional equities.
On Wall Street, stocks edged higher on Wednesday, even as the economic calendar remained light and trading volume remained subdued. All the major averages closed in positive territory, with the tech-heavy Nasdaq posting a sizable gain. The Dow closed almost flat with a positive bias, while the Nasdaq advanced 0.78% and the S&P 500 ended up 0.45%.
In domestic corporate news, British oil giant BP Plc is set to acquire oil assets from U.S.-based independent oil and gas producer Devon Energy Corp. in a deal worth up to $6 billion, reports suggest.
German sneaker maker Puma AG has reached an agreement to buy the golf equipment brand Cobra Golf from Fortune Brands, Inc. for an undisclosed price.
Pfleiderer AG said it has received notifications of accusations and hearings from German's Federal Antitrust Authority.
The law firm Siskinds LLP has launched a class action against Bayer AG regarding its oral contraceptives Yasmin and Yaz.
The European markets rose for the first time in three days on Wednesday, as speculation grew about increased mergers and acquisition activities and heavily weighted energy stocks rallied after crude oil prices jumped past the $83 a barrel mark.
The FTSEurofirst 300 index of pan-European blue chips closed 0.60% higher, while the narrower DJ Stoxks 50 index rose 0.44%. Around Europe, the U.K.'s FTSE 100 index rose 0.68%, France's CAC 40 index gained 0.86% and Germany's DAX index added 0.86%.
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