Technology and travel sectors push European stocks higher

European stocks rose on Tuesday, led by technology, travel and entertainment stocks, as investors prepared to read euro zone inflation to anticipate when interest rate cuts might begin next year.

According to Reuters, the European Stoxx 600 index rose 0.3% by 0818 GMT, after declining on Monday.

Investors are now awaiting the final inflation reading for November in the euro zone, scheduled to be released on Tuesday, while monitoring personal consumption spending data in the United States, which will be released this week.

This comes after the Federal Reserve’s (US Central) inclination towards monetary easing recently reinforced bets on an approaching interest rate cut, which led to strong gains in global stocks.

UBS shares rose 1.6% after Cevyan Capital Investment Company acquired a 1.3% stake in the bank.

Covestro shares advanced 2.4% after a report on the willingness of Abu Dhabi National Oil Company (ADNOC) to increase its offer to buy the German chemical company.

Shares of the Norwegian energy group Equinor lost 1.6% after RBC lowered its rating on the stock.