As trading began, the index was up by 0.3%. Most sectors were in tentatively positive territory. The traders will be looking out for the euro zone inflation figures, which are due to be released 10 am London time. They want to know if the European Central Bank's fiscal tightening is having the desired effects. It's still too early to declare victory against price increases. "Inflation is high in the Eurozone and will remain that way for a long time." IG's forecasts predict that European equity markets will rise in Friday trading. Looks set to gain 34.5 point at 15,969.4. CNBC Pro: Fund manager: Aging populations create major opportunities. Saurymper shares his thoughts on how to invest for an ageing population and what stocks to purchase.
The PMI in May was 48.8, which is the lowest reading since December. Investment bank says that while many analysts predicted a stock market downturn, it may be near.
The Federal Open Market Committee prefers PCE to the price index. PCE takes into account the substitutions people make when they replace one good or service with another. The PCE covers a wider range of goods and services. Finaly, PCE historical data can be revised.