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(Sharecast News) - European shares shrugged off a hot producer prices print from the US and made a strong start to Friday's session, with all eyes on the meeting between President Donald Trump and his Russian counterpart Vladimir Putin in Alaska for talks on the Ukraine war.
The pan-regional Stoxx 600 index was up 0.22% to 555 points at midday BST. Germany's DAX gained 0.28% and France;'s CAC 40 rose 0.7%.
Trump suggested on Thursday that Putin was ready to agree a pathway towards a ceasefire and further peace talks with Ukraine President Volodymyr Zelenskyy, although there was no indication from Moscow that the US leader was accurate in his assessment.
"The sun is shining on UK and European markets this morning, which are on track for a bright end to a positive week for major indices," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
"Absent any major local earnings releases or economic news, UK and European markets are mirroring positive sentiment seen across the pond, as investors have largely shrugged off yesterday's hotter-than-expected US producer inflation print."
"Oil prices are trading lower this morning, with Brent hovering around the $66.60 mark. Traders have turned cautious ahead of today's meeting between the presidents of the US and Russia. A failure to reach a deal over Ukraine could force Trump's hand, as he's been vocal about severe repercussions if negotiations fall through."
There was little to move markets in the way of corporate news. Pandora shares tanked by 13% as the Danish jewellery maker reported a slowdown in growth over July.
NKT jumped 7.6% after the Danish power cable solutions provider updated its full-year financial outlook.
Reporting by Frank Prenesti for Sharecast.com
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