LONDON — European markets opened mixed on Friday, as a global stock selloff eases and investors await a U.S. inflation print.
The pan-European Stoxx 600 opened slightly above the flatline, with sectors and major bourses spread between losses and gains.
Autos led loses, down 1.2%, as Germany’s Mercedes Benz dipped 2% after narrowing its annual profit margin forecast.
Autos firms are reporting a range of struggles in their latest results, with Stellantis on Thursday recording a 48% decline in first half net profit on weaker U.S. sales.
European equities have closed lower for the last two sessions amid a sharp downturn in technology stocks, with Wall Street’s tech-heavy Nasdaq Composite down more than 3% this week.
Overall, Stoxx losses have eased from last week, when the regional index recorded its worst performance since October.
The biggest item on the data front Friday is the U.S. personal consumption expenditures price index, due at 8:30 a.m. ET, as investors seek more support for high expectations for a September rate cut. Economists polled by Dow Jones expect the headline figure to come in at 2.5% annually and 0.1% monthly.
Asia-Pacific markets largely rebounded Friday, as Tokyo’s headline inflation slowed slightly to 2.2% in July from 2.3% in May. U.S. stock futures were higher in the early hours.