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.