European Stocks Mixed; Deutsche Telekom Shines, AstraZeneca Slips By Investing.com – Investing.com

European Stocks Mixed; Deutsche Telekom Shines, AstraZeneca Slips By Investing.com – Investing.com

© Reuters.

By Peter Nurse 

Investing.com - European stock markets traded in a mixed fashion Friday, searching for direction following the sharp rise in U.S. inflation yet generally positive corporate earnings.

At 3:50 AM ET (0850 GMT), the in Germany traded 0.1% higher, the in France rose 0.2%, climbing to a new record high, while the U.K.’s dropped 0.3%.

The main European indices look set to post a positive week, helped by the overall strength of the quarterly earnings season in Europe and despite a surprisingly strong reading on U.S. inflation, which raised the possibility of the Federal Reserve bringing forward plans to lift interest rates.  

The U.S. rose 6.2% year-on-year in October, official data showed on Wednesday, the strongest advance since November 1990.

Helping the tone were gains in Asia overnight, aided by signs of consumer confidence as Chinese e-commerce giants Alibaba (NYSE:) and JD (NASDAQ:).com set new sales records across their platforms on Singles Day, the world's largest shopping event.

Back in Europe, Deutsche Telekom (OTC:) stock rose 1.6% after reporting core profit above market estimates, raising its full-year outlook for the third time, boosted by its U.S. unit T-Mobile (NASDAQ:),