European stocks climb on U.S. inflation data
European stocks rose slightly after the release of July U.S. inflation data, which came in line with expectations, reinforcing investor confidence that global price pressures are still easing. The STOXX Europe 600 index increased by 0.22%, approaching new record highs, while the German DAX rose by 0.4%, whereas the French CAC 40 declined by 0.2%. The inflation data showed core inflation slowing to 3.4% annually, with underlying inflation remaining steady at 2.5% annually, supporting expectations that interest rates will stay on hold during the fall. Additionally, the data indicated a stable labor market, further fueling forecasts that central banks will refrain from raising rates. Oil prices, which have been rising for the sixth consecutive day, continued to decline. Markets were also affected by tensions in the Gulf region and escalating rhetoric between Washington and Tehran.
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