European stocks rose on Thursday as investors digested a slew of corporate earnings and awaited US inflation print that will likely determine the Federal Reserve’s monetary policy path.
The pan-European STOXX 600 added 0.4% by 0707 GMT, having closed at a one-week high in the previous session.
US stock futures rose ahead of data expected to show a slight acceleration in July consumer prices.
On a month-to-month basis, CPI is seen increasing 0.2%, the same as in June.
Europe’s personal & household goods sector, which houses the largest luxury brands, gained 1.1% after China lifted its pandemic-era restrictions on group tours for more countries.
European stock markets drop on weak data
Lifting insurers, Germany’s Allianz gained 2.1% and Zurich Insurance rose 1.6% after both the companies reported better-than-expected results.
Limiting gains, Siemens slumped 3.5% after the German engineering group missed third-quarter profit estimates.
Denmark’s Novo Nordisk slipped nearly 1% after the drugmaker said it will continue to restrict US supplies of starter doses of its hugely popular Wegovy weight-loss drug.
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