European stocks rise, but mixed data limit gains

European stocks rose today, Thursday, as US inflation data reinforced hopes that the Federal Reserve (the US central bank) is about to end the monetary tightening cycle after the Corona virus pandemic, although a set of mixed economic data limited the increase in gains.

According to “Reuters”, the European Stoxx 600 index rose 0.1 percent by 0708 GMT.

In the previous session, the index posted its biggest percentage gain since early June, after a faster-than-expected slowdown in U.S. consumer price inflation fueled expectations that the Federal Reserve may end its rate hikes after July.

Weak trade data from China weighed on risk appetite, while the UK economy on the other hand contracted less than expected in May.

Industrial sector stocks, which are sensitive to news related to China, recorded the biggest losses on the index

Barratt Developments fell 4 percent after Britain’s largest homebuilder indicated it would build far fewer homes this fiscal year, while Swatch rose 6.4 percent after the watch maker reported record growth in the first half. of the year.