The main European stock markets rose moderately early in the session on Friday, as financial markets avoided taking sharp positions just hours before the publication of a key indicator on price trends in the United States.

In Paris, the CAC 40 gained 0.27% to 7,337.55 points around 09:05 GMT. In London, the FTSE 100 gained 0.28% and in Frankfurt, the Dax advanced by 0.14%.

The EuroStoxx 50 index was up by 0.2%, the FTSEurofirst 300 by 0.28% and the Stoxx 600 by 0.28%.

For the final session of the week, observers will be treated to January's US household income and expenditure figures, including the PCE price index, at 13:30 GMT.

In its "core" version, i.e. excluding energy and food products, this inflation indicator favored by the Federal Reserve is given as up 4.3% year-on-year by the Reuters consensus, after +4.4% a month earlier.

If a marginal slowdown is confirmed, fears that the Fed will continue its monetary tightening for longer could be heightened.

Leading the CAC 40, Saint-Gobain gained 5.81% after reporting record results last year. The European construction sector advanced by 0.88%.

Valeo was the biggest decliner on the Stoxx 600, as the automotive supplier reported mixed annual results, according to Jefferies, which highlighted a lower-than-expected EBIT margin in a note.

Fnac Darty (-6.64%) erased a large part of its Thursday gains after qualifying as a rumor a press report on businessman Daniel Kretinsky's increased interest in the group, which also published a net loss for 2022.

German chemicals giant BASF lost 4.91% after warning of a drop in operating profit in 2023 and the discontinuation of its share buyback program. (Laetitia Volga, edited by Blandine Hénault)