European stocks rise ahead of US inflation data

European stocks rose on Tuesday as investors hoped that US inflation data scheduled for release later in the day would allow the Federal Reserve (the US central bank) to slow the pace of interest rate hikes.

According to “Reuters”, the European Stoxx 600 index rose 0.1 percent by 0812 GMT.

The technology sector led the index’s gains, as it rose 1.2 percent, supported by semiconductor stocks.

Financial services and energy sectors also supported the index, while healthcare sector shares fell 0.4 percent

Novo Nordisk shares fell 1 percent after a report stated that the pharmaceutical company had delayed launching a treatment for obesity in Europe.

The Stoxx 600 index fell in the previous session due to fears of an increase in Covid-19 infections in China and the interest rate decisions that the Federal Reserve and other major central banks will issue this week.