European markets climbed slightly on Friday as traders see a partial recovery from Thursday’s selloff, with the outlook for monetary policy still firmly in focus.
The pan-European Stoxx 600 opened 0.3% higher, with mining stocks leading gains, up 1.1%. Telecoms stocks led marginal losses, down 0.4%.
European markets closed lower in the previous session as global market sentiment soured after disappointing December retail sales figures out of the United States, which resurfaced concerns about a possible recession.
Investors have grown increasingly concerned that the Federal Reserve will continue to hike interest rates despite signs of slowing inflation.
Both the Dow Jones Industrial Average and the S&P 500 notched a third straight day of losses on Thursday, and U.S. stock futures were cautiously higher in early premarket trade on Friday.
Shares in Asia-Pacific were mostly higher on Friday as investors digested Japanese inflation data, which showed nationwide core consumer prices rose by an annual 4% in December, the fastest inflation rate since 1981.
Friday marks the conclusion of the World Economic Forum in Davos, Switzerland, where policymakers and CEOs have been discussing the key issues surrounding the economy, financial markets, geopolitics and climate change.
CNBC will be speaking to a host of delegates on the final day of the summit, including former Treasury Secretary Larry Summers, European Central Bank President Christine Lagarde, Bank of Japan Governor Haruhiko Kuroda, French Finance Minister Bruno Le Maire and International Monetary Fund Managing Director Kristalina Georgieva, among others.
