Jan 11, 2024: European shares commenced higher on Thursday, driven by optimism ahead of a crucial inflation report in the United States. The report is expected to provide insights into the Federal Reserve’s stance on interest rate cuts, influencing the trajectory for other central banks.
As of 8:10 GMT, the pan-European STOXX 600 index showed a 0.6% increase.
Investors are eagerly awaiting the U.S. inflation report scheduled for 8:30 a.m. ET (1330 GMT), aiming to gauge the timing of potential interest rate cuts by the Federal Reserve. This information will likely set the tone for other central banks.
Reflecting the overnight gains in the tech-heavy Nasdaq, the European technology index saw a 1.2% rise.
Basic resources shares, driven by an upswing in gold and copper prices amid a weakening dollar, led with a 1.4% gain.
VAT Group shares surged by 3.8% following a robust performance in fourth-quarter orders by the Swiss industrial valves maker.
The broader industrial goods index demonstrated an uptick of 0.8%.
