Stocks to open in a muted manner, stabilising following a run of gains

This week's gains in the major European equity indices have been driven by economic data that indicates a slowdown in U.S. inflation. On Wednesday, for example, producer prices fell at their quickest rate since April 2020. The idea that US interest rates have peaked has been validated by this.

Comparably, consumer inflation in the United Kingdom exceeded all projections in October, but inflation in the eurozone dropped to 2.9%, the lowest level in over two years. Expectations that the European Central Bank won't raise interest rates any more were strengthened by this.

On Thursday, there won't be many economic data releases in Europe, but a number of central bankers, including Christine Lagarde, the president of the European Central Bank, will speak at different events. Investors will be on the lookout for additional indications that it is becoming less likely that interest rates will rise further.

This week's mood was also enhanced by Chinese retail and industrial data that exceeded forecasts in October and gave rise to optimism for a rebound in the world's second-biggest economy.

Data released on Thursday, however, indicated that China's new home prices declined for the fourth consecutive month, indicating that the crisis-ridden real estate market will likely continue to hamper a full-blown rebound.

After U.S. inventories increased more than anticipated on Thursday, oil prices declined as worries about China's weak energy demand increased.

U.S. crude stocks increased by 3.6 million barrels in the week ending November 10, exceeding projections of a build of approximately 1.8 million barrels, according to data released late Wednesday by the U.S. Energy Information Administration.

Additionally, data indicated that through the week, U.S. production stayed at record highs of 13.2 million barrels per day.

(Sources: investing.com, reuters.com)