European Stocks Edge Higher Ahead of US Inflation, ECB Meeting

-- European stocks ticked higher as investors awaited sensitive US inflation data due later on Wednesday for clues about the Federal Reserve’s near-term monetary policy moves.The Stoxx Europe 600 Index rose 0.2% at 10:53 a.m. in Paris, supported by retailers after Zara-owner Inditex SA reported that sales were rising at the start of the third quarter. Banking stocks were also stronger after Italy’s UniCredit SpA bought shares in Commerzbank AG from the German government.

Europe’s benchmark index has stumbled this month after an August rebound as concerns about global growth weighed on stocks linked to the economic cycle and commodities such as oil. The European Central Bank is expected to cut rates at its meeting on Thursday for a second time this cycle as the region’s economy struggles to maintain growth momentum.

Democratic party candidate Kamala Harris and Republican nominee Donald Trump sparred through their first election debate on Tuesday, with the former president often on the defensive over abortion rights, the January 6 insurrection and on foreign policy.Investors expect a Trump administration to be more prone to fueling inflation through tax cuts and tariffs on imported goods, while a Harris presidency would be more favorable to US traditional partners, such as the European Union, Baradez said.

Trump-Harris debate highlights: Trump falls into Harris’s traps as he lies about abortion and ‘eating pets’

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