European stocks rose in trading on Tuesday after data came below expectations for inflation in the United States, which increased bets that the Federal Reserve will reduce the pace of raising interest rates in the largest economy in the world.
Consumer prices in the United States rose slightly in November amid declines in gasoline and used car prices, which led to the smallest annual increase in inflation in nearly a year.
The consumer price index rose by 7.1% in November on an annual basis, the smallest increase since December 2021, against expectations of 7.3%, and compared to 7.7% in October.
stock movements
The pan-European Stoxx 600 index was down 0.4 percent by 08:14 GMT.
The index rose more than 1 percent on Tuesday as weaker-than-expected US inflation data supported stocks worldwide, which boosted hopes that the Fed will reduce the pace of interest rate hikes.
Final data confirmed that consumer prices in Germany rose 11.3 percent year-on-year in November, compared to 11.6 percent in October.
Most of the sectors on the Stoxx 600 index recorded a decline on Wednesday.
Travel and leisure shares fell 1.1 percent to lead, followed by technology shares that fell 0.8 percent.
Energy sector shares rose by 0.3 percent, and banking sector shares also rose.
Although TUI, the world’s largest holiday company, made a profit in the last financial year, shares of the London-listed company fell 4.8 percent to be the biggest loser on the Stoxx 600 index.
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