European stocks rise after US data calmed fears of economic ‎slowdown

European stocks rose on Wednesday after strong US data quelled fears of a sharp economic slowdown, while investors await comments from central bankers at a forum later in the day to get a clearer picture of finance policy directions.

According to “Reuters”, the European Stoxx 600 index rose 0.5 percent by 0810 GMT, tracking the gains of Wall Street on Tuesday night, after the data showed an increase in new orders for US manufactured capital goods and an increase in consumer confidence in June.

Industry shares gave a big boost to the Stoxx 600 index, as well as shares in the health care sector, as Swiss pharmaceutical holding Roche rose 1.6 percent after US health authorities declined to approve Regeneron’s Elia drug.

Investors are closely awaiting a forum of central bankers to be held in Sintra, including European Central Bank President Christine Lagarde, Federal Reserve Chairman (US Central Bank) Jerome Powell and Bank of Japan Governor Kazuo Ueda.

French supermarket chain Carrefour rose 3.1 percent after Morgan Stanley began its coverage of the stock with a recommendation to “overweight portfolios.”