European stocks rise as markets await inflation data

European stocks extended their rally on Tuesday as investors await consumer price data from Germany, the region’s largest economy, for clues about inflation in the euro zone.

According to “Reuters”, the Stoxx 600 European stock index rose 0.5 percent by 0810 GMT, supported by financial stocks and non-essential consumer goods.

Investors are eyeing Germany’s CPI data, due at 1300 GMT, which may provide further clues as to whether cost pressures in the eurozone have eased after aggressive policy tightening by the European Central Bank.

European stocks ended the first trading sessions this year, up 1.6 percent on Monday, after data for the manufacturing sector in the eurozone showed that the worst phase had ended, with the supply chain beginning to recover and inflationary pressures receding.

The British FTSE 100 rose 1.1 percent in its first trading session in 2023, as the British market had been closed since a brief session on Friday.