European stocks rose on Wednesday as investors celebrated the slowing inflation in major economies, bolstering bets that central banks may end their tightening monetary policy cycle. Following a day after a mild U.S. inflation report that supported views that the Federal Reserve may have finished raising interest rates, new data also showed that UK inflation slowed more than expected in October.
By 08:10 GMT, the Stoxx 600 index rose by 0.5%, while the FTSE 100 index gained 1%. Both indices recorded their highest levels in about a month. Mining stocks led the sector gains with a 1% advance, supported by rising metal prices. Shares of Experian surged 4.2% after the world’s largest credit data company reported higher half-year profits, while Swiss eye care products company Alcon saw its stock plunge 7.2% after announcing third-quarter sales below expectations and lowering its full-year outlook.
