European Markets up, US inflation data awaited

European markets opened higher on Wednesday, as traders awaited US inflation data that will influence the Federal Reserve’s decision to cut interest rates.

The pan-European Stoxx 600 index rose by about 0.3% during early trading, with most sectors and all major stock exchanges in positive territory after the opening bell.

The FTSE 100 index rose by 0.7%, after official data showed that the UK inflation rate fell to 2.5% in December, which is lower than expected.

Economists polled by Reuters had expected the rate to remain at 2.6%, as it was in November.

The German DAX index rose by 0.22%, and the French CAC index rose by about 0.23%