2024-01-11 09:05:49
European stocks began Thursday’s session on a positive note before an important report on inflation in the United States will provide indications regarding the path of lowering interest rates that the Federal Reserve may follow, and shares of basic resource companies led the gains.
The European STOXX 600 index rose 0.6 percent 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 setting indicators for other central banks to follow.
The European technology sector index rose by 1.2 percent, tracking the rise of the Nasdaq, which is loaded with shares of major technology companies.
Shares of basic metals companies gained 1.4 percent, driven by a rise in gold and copper prices as the dollar fell.
Fat Group shares rose 3.8 percent following the Swiss valve manufacturer reported strong orders for the fourth quarter.
The broader industrial goods index rose 0.8 percent.
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