European Shares Muted; US PCE Data Eyed

Add as your preferred news source on Google Add Now European stocks were little changed on Friday, a day after the European Central Bank and Bank of England issued hawkish signals on the outlook for their rate paths.After November's U.S. inflation report showed an unexpected decline in price growth, the core PCE price index, widely regarded as the Federal Reserve's preferred inflation gauge, along with the existing home sales report will be in focus later in the day. Meanwhile, European Union leaders have decided to borrow cash to fund Ukraine's defense rather than use frozen Russian monies.The pan European Stoxx 600 was marginally higher at 585.67 after climbing 1 percent on Thursday. The German DAX and France's CAC 40 were also marginally higher while the U.K.'s FTSE 100 traded with a negative bias. Sportswear giant Puma fell 2.1 percent and peer Adidas dropped nearly 1 percent after Nike warned of weak China demand and rising tariff pressure. DIY retailer Hornbach Holding tumbled 3 percent after reporting a 21 percent fall in Q3 adjusted profit. Biopharmaceutical company Ipsen lost 2.2 percent after a pivotal Phase II FALKON study evaluating fidrisertib in patients with fibrodysplasia ossificans progressiva (FOP) failed to meet its primary endpoint.Capita rose about 1 percent after its contact center business within Capita Experience secured a four-year contract renewal with a major European telecommunications provider. Travel retailer WH Smith declined 3 percent after missing annual profit expectations and cutting its headline profit forecast. For comments and feedback contact: editorial@rttnews.comBusiness News