stocks, news, UK GDP data, earnings

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stocks, news, *** GDP data, earnings

European stocks are heading for a higher open Thursday, amid a flurry of earnings and economic data.

The U.K. economy grew by 0.1% in the fourth quarter, ahead of expectations for a 0.1% contraction, according to a preliminary estimate from the U.K.’s Office for National Statistics.

Corporate results include those of Siemens, Nestle, Swisscom, Pernod Ricard, Orange, Unilever, Legrand, Ferrovial, Barclays, British American Tobacco, Commerzbank, Thyssenkrupp and Moncler, while Germany’s latest inflation rate is also due.

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The expected higher open for markets also comes as an end to the Ukraine-Russia war becomes a more distinct prospect.

U.S. President Donald Trump said on Wednesday that he had spoken to both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, and that both leaders wanted peace. He said he had ordered U.S. officials to begin talks immediately on ending the war.

Global markets shed gains on Wednesday after a hotter-than-expected inflation print out of the U.S.

The consumer price index gained 0.5% for the month, taking the annual inflation rate to 3%, above the Dow Jones estimate of 2.9%. Core CPI, excluding food and energy prices, was also higher than forecast.

The inflation print has fueled expectations that the Federal Reserve will keep interest rates on hold for an extended time, and could push the next rate cut to September.

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