Prior to the release of the Eurozone's inflation figures, European stock markets begin cautiously on Thursday.

Before the publication of the most recent Eurozone inflation figures, which will offer hints about the future trajectory of interest rates in the area, European stock markets begin cautiously on Thursday.

Investors in both the U.S. and Europe are worried that rising borrowing rates would have a negative impact on future growth since inflation has been difficult to control.

A 50-basis point increase by the European Central Bank in mid-March has already been completely priced in, and a further 50 bps increase is being considered for May.

Preliminary figures from Germany, France, and Spain, however, all came in better than anticipated, indicating possible gains from the Eurozone release.

The minutes from the most recent ECB policy meeting will be made public, and President Christine Lagarde will be interviewed on Spanish television later in the session.

Due to a reduction at its electronic chemicals division and a decrease in demand from medicine and vaccine manufacturers for its lab supplies, German science and technology corporation Merck predicted its 2023 earnings would reduce.

The London Stock Exchange Group, Taylor Wimpey, and Metro Bank, among others, are all expected to report earnings.

While traders evaluated the possibility of a resurgence in Chinese gasoline demand against escalating crude inventories in the United States, oil prices remained inside a narrow trading range on Thursday.

The Energy Information Administration said late Wednesday that U.S. oil stockpiles increased by 1.2 million barrels last week to little over 480 million barrels, its highest level since May 2021.

Because the United States has been adding to its petroleum storage for ten weeks straight, concerns have been raised about the potential destruction of demand in the country, which is the world's largest consumer of crude.

Key Events Today:

- Eurozone CPI at 10:00 GMT.

- Initial Jobs Claims at 13:00 GMT.

(Investing.com, Reuters.com)