European stocks rise ahead of inflation data

European stocks rose on Thursday as investors awaited inflation data and the minutes of the European Central Bank’s latest meeting, while Basilia Pharmaceuticals shares jumped after the US regulatory body approved a drug to treat bacterial infections.

According to Reuters, the European Stoxx 600 index rose 0.1% by 0720 GMT, ahead of the release of producer price data in the region for February, scheduled for 0900 GMT.

Later on Thursday, investors will analyze the minutes of the European Central Bank’s March meeting to ascertain the date of the long-awaited first interest rate cut.

The shares of Basilia Pharmaceutical Industries jumped 9.4% to its highest levels in more than six months after the Swiss company obtained approval from the US health sector regulatory authority for the antibiotic Zeftera to treat bacterial infections.

Compu Group shares rose 7.5% after Morgan Stanley (NYSE:MS) raised its recommendation for the shares of the German medical software company.