European stocks climb on US inflation data

European stocks rose slightly after the release of US inflation data for July, which matched expectations and showed a decline in core inflation to 3.4% year-over-year, with underlying inflation remaining steady at 2.5%. This improvement in the data boosted market expectations that interest rates will remain unchanged during the fall, as inflation in the world's largest economy slowed down and the job market remains stable. Meanwhile, the wave of rising oil prices continued, limiting market gains amid escalating tensions in the Arabian Gulf. Additionally, European investment funds experienced positive inflows for the first time since the beginning of the conflict between the US and Iran, and corporate earnings contributed to strong movements in European and global stock markets.

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