Global stocks in mixed tone as mkts brace for US inflation data

Tokyo Global benchmarks mostly rose on Thursday as investors braced for a highly anticipated United States inflation report. France’s CAC 40 surged 1.0 per cent to 7,396.40 in early trading, while Germany’s DAX gained 0.5 per cent to 7,396.40. Britain’s FTSE 100 edged up nearly 0.1 per cent to 7,591.98. US shares were set to drift higher with Dow futures up 0.5 per cent at 35,373.00. S&P 500 futures added 0.5 per cent to 4,509.25. Later in the day, the US government will give its monthly update on the inflation that consumers are experiencing. Economists expect to see acceleration to 3.3 per cent in July from 3 per cent in June. Tina Teng, markets analyst at CMC Markets, called the looming update “a pivotal event for global markets”.

Inflation in China also remains a huge concern. “A slowdown in consumer spending and high-interest rates remain issues for the global economy,” said Teng. Japan’s benchmark Nikkei-225 added 0.8 per cent to finish at 32,473.65. Australia’s S&P/ASX 200 added 0.3 per cent to 7,357.40. South Korea’s Kospi lost 0.1 per cent to 2,601.56.