In terms of inflation data, consumer prices in Spain increased by 4.1% in the twelve months to April, while inflation in France increased by 6.9%, both in line with expert estimates.
stock market performance
The pan-European Stoxx 600 index rose 0.4% at 07:18 GMT and is heading for slightly positive results for the week as a whole.
Shares of luxury goods group Richemont jumped 5.5% to a record high, buoyed by better-than-expected results, after strong Chinese consumer demand for jewelry and watches boosted net profit and sales in the 12 months preceding March.
Other luxury goods companies, such as Kering and LVMH, rose more than 1%.
Shares of struggling Swedish real estate company SBB, whose shares recently fell due to debt problems, rose 2.9% after selling most of its shares in construction company JM for 2.8 Swedish crowns ($275.8 million). JM, 2.6%.
French bank Societe Generale rose 0.3% after posting better-than-expected quarterly earnings.
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