European markets advance as investors await US inflation data

European stocks rose today, Thursday, in a state of anticipation ahead of the release of US inflation data, which may affect the course of monetary policy in the largest global economy, while Logitech shares fell as sales expectations were cut after the company failed to achieve its quarterly targets.

By 0810 hours, the Stoxx 600 index of European shares rose 0.3 percent

According to Reuters, all eyes are on US inflation data, which will be announced at 1330 GMT, and Federal Reserve officials said this week that this data would help them determine the pace of slowing interest rate hikes.

The interest rate-sensitive technology sector index fell 0.6 percent

Logitech International shares plunged 13.8 percent after the company posted lower-than-expected profits and sales between October and December.

Shares in Germany’s Suedzuker, Europe’s largest sugar producer, rose 2.3 percent after the company reported a 73.5 percent jump in quarterly profit.

British retailer Tesco fell 0.9 percent after the company maintained its full-year profit forecast after joining other retailers in posting stronger-than-expected Christmas sales.