Rise in European Stocks

European stocks rose today, Friday, after weak data on manufacturing activity in China bolstered hopes for further stimulus policies, while investors await key inflation data for additional clues about global interest rate trends. The Stoxx 600 index increased by 0.3 percent by 07:03 GMT. The index was expected to post limited gains at the end of the quarter, amid growing evidence of a weak recovery in China following the COVID-19 pandemic and concerns that prolonged global interest rate hikes could curb the stock market rally that began earlier this year. The index is on track for a 1.4 percent monthly gain. Mining stocks rose by 0.7 percent due to increased metal prices as the weakening manufacturing activity in China boosted expectations for the country to implement economic stimulus, while energy companies also provided support to the index on Friday. Investors are now awaiting data on personal consumption expenditure in the United States for May, along with preliminary inflation figures for the eurozone later today. Among individual stocks, shares of sportswear company Adidas fell by 1.7 percent. Puma, operating in the same sector, declined by 0.3 percent following gloomy forecasts from Nike.