European stocks gained for a second day as traders awaited a raft of economic figures over the next few days for clues on the outlook for global central bank policies.
Despite this week's gains, global stocks are on track for their worst month in almost a year as policy makers remain determined to stifle inflation. Economic reports are assuming even more importance than usual after Federal Reserve Chair Jerome Powell reiterated at Jackson Hole last week that the central bank is ready to raise rates further if the data suggests that is appropriate.
Traders will be monitoring U.S. consumer confidence data later Tuesday. Other reports this week include U.S. employment growth, the core PCE deflator and August's payrolls and wages data. Euro-area inflation readings will be in focus this week as well. An Asian equity gauge rose 0.8 per cent, supported by gains across major indexes in the region. The Hang Seng Index extended its increase into a second day and China's stocks outperformed, with the Hang Seng China Enterprises Index rising more than two per cent. Chinese officials pledged Monday to strengthen policy support and speed up government spending, according to the official Xinhua News Agency.
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