(MENAFN- Gulf Times) Europe's major stock markets were mixed at the end of the trading session yesterday, while prices on Wall Street were firmer on better-than-expected retail sales data, dealers said.
After slipping briefly into the red earlier, Europe's main stock indices seemed to find a floor as they headed into the weekend, buoyed by higher stock prices in New York.
US retail sales jumped 1.6% in September due to strong trade in cars, car parts and fuel following US hurricanes, Commerce Department data showed.
And US consumer price data revealed that soaring fuel prices drove US inflation to an eight-month high in September.
Nevertheless, the spike in gasoline prices was likely tied to Hurricane Harvey and stripped of such volatile factors, core inflation remained tame, the data showed.
The dollar fell as a result, pushing stock prices on Wall Street higher.
In Frankfurt, the German blue-chip DAX index, ended just short of the 13,000-point mark, which it had breached for the first time on Thursday. The DAX 30 ended 0.1% up at 12,991.87 points.
The CAC 40 index in Paris was 0.2% down at 5,351.74 points and London's benchmark FTSE 100 index of top blue-chip companies eased 0.3% at 7,535.44 points, after hitting a record closing peak the previous day.
The EURO STOXX 50 closed flat at 3,604.55 points.
'Although US consumer prices rose 0.5%, the largest increase seen in eight months on the back of rising gasoline prices, underlying inflation remained subdued, said FXTM analyst, Lukman Otunuga.
'While markets are still expecting the Federal Reserve to raise interest rates in December, concerns over prolonged periods of depressed inflation may cloud the prospect of higher US interest rates in 2018.
London stocks had been catapulted on Thursday to an all-time closing pinnacle on the weak pound, which boosts earnings of exporters.
Sterling initially sank after EU negotiator Michel Barnier warned that Britain and Brussels are stuck in a 'disturbing deadlock over the Brexit divorce bill.
However, the currency then rebounded as German newspaper Handelsblatt reported that Britain could be given a two-year extension to complete Brexit.
The British unit continued to regain its composure yesterday.
There were cautious gains in Asia yesterday after an underwhelming session overnight in New York, but Tokyo pushed ahead after hitting a 21-year high earlier in the week.
World oil prices rebounded sharply yesterday on bullish trade data in China, which is the world's top energy consuming nation.
Crude futures also pushed higher before US President Donald Trump's speech later on Friday, when he is expected to unveil a more aggressive strategy to check the growing power of key Opec oil producer Iran.
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