European stocks rise ahead of US inflation data release

European stocks opened higher today, Thursday, before an important report on inflation in the United States will provide indications about the path of reducing interest rates that the Federal Reserve may follow, and shares of basic resource companies led the gains.

According to Reuters, the European Stoxx 600 index rose 0.6% by 8:10 GMT.

Market traders are awaiting an important report on inflation in the United States to estimate the timing of the interest rate cut from the US Central Bank, which will contribute to determining indicators for other central banks to follow.

The European technology sector index rose 1.2%, tracking the rise of the Nasdaq, which is loaded with shares of major technology companies.

Shares of basic resources companies gained 1.4%, driven by a rise in gold and copper prices with a decline in the dollar

Fat Group shares rose 3.8% after the Swiss valve manufacturer announced receiving strong orders for the fourth quarter.

The broader industrial goods index rose 0.8%.