European Shares Inch Higher Ahead Of US CPI Report
(RTTNews) - European stocks traded higher on Thursday after two consecutive sessions of losses. Amid a light day on the economic front, investors awaited U.S. CPI data later in the day for more clues on the Federal Reserve's rate trajectory.
U.S. consumer price inflation is expected to edge higher to an annual 3.2 percent in December from 3.1 percent in November.
The Core CPI, which strips volatile food and energy prices, is forecast to rise 0.3 percent on monthly basis to match November's reading.
The pan European STOXX 600 rose half a percent to 478.82 after declining 0.2 percent on Wednesday.
The German DAX added 0.6 percent, France's CAC 40 rose half a percent and the U.K.'s FTSE 100 was marginally higher.
VAT Group shares rose over 1 percent after the Swiss industrial valves maker reported stronger than expected orders in Q4.
Marks & Spencer plunged 5 percent. The British retailer reported strong holiday sales growth but warned of an uncertain outlook for this year.
Anglo American and Antofagasta climbed around 2 percent each as copper prices rose on the back of a weaker dollar.
Event company Informa fell nearly 3 percent despite reporting a robust performance in a trading update for 2023.
Vinci SA rose half a percent. The French engineering and construction company announced that it has reduced the size of its revolving credit facility by renewing the agreement with a syndicate of 23 relationship banks.
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