© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2023. REUTERS/Staff
(Reuters) – European stocks rose on Wednesday as investors cheered slowing inflation across major economies, bolstering bets of an end to central bank policy tightening.
Just a day after a benign U.S. inflation report supported views that the Federal Reserve may be done raising rates, fresh data showed British inflation also cooled by more than expected in October.
The pan-European gained 0.5% by 0810 GMT, while UK’s rose 1%. Both the indexes hit their highest in around a month.
Miners led sectoral gains, with a 1% advance, tracking higher metal prices.
Experian (OTC:) jumped 4.2% after the world’s largest credit data company reported a higher half-yearly profit, while Swiss eye-care company Alcon (NYSE:) dropped 7.2% after posting lower-than-expected third-quarter sales and narrowing its full-year outlook.