European markets are heading for a slightly higher open, with investors focused on the release of preliminary euro zone inflation data for February.
German inflation is expected to have risen to 8.7% in February, according to theFebruary's EU-harmonized rate for consumer prices increased to 9.3% year-on-year, above the 9% forecast by economists polled by Reuters. Harmonized inflation was at 9.2% in January.
The rate remains well above the European Central Bank's 2% target and follows the hotter-than-expected February inflation figures from France and Spain. "It seems to be the case that inflation is very stubborn, so it looks like that inflation will remain on a very high level," Joachim Nagel, President of Deutsche Bundesbank told CNBC's Annette Weisbach Wednesday.
The pan-European Stoxx 600 index eased slightly on the announcement, but was flat by 1.30 p.m. London time.European markets are heading for a slightly higher open Thursday as investors reflect on the latest economic data from the region.
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