Rise of European Stocks

European stocks rose today, Wednesday, supported by Kering after it appointed a new CEO for Gucci, while stocks in London increased following data that showed a larger-than-expected slowdown in inflation in the UK. The Stoxx 600 index rose by 0.5% by 07:06 GMT, continuing its gains for the second consecutive session. Kering's shares jumped 6.5% after the French luxury goods group appointed managing director Jean-François Palus as the new CEO of Gucci, serving in a transitional role as current CEO Marco Bizzarri is set to depart on September 23. Meanwhile, the export-sensitive FTSE 100 index in London advanced by 1% as the British pound fell after data showed UK inflation dropped more than expected in June, reaching its slowest level in over a year.