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European Stocks Rise on Boost From China Measures, UK Inflation

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European stocks rose on Tuesday as recent stimulus measures from China and supportive inflation figures from the UK boosted risk-on appetite, with investors primed for economic data which could provide further hints on the direction central banks may take.

The Stoxx 600 Index was up 0.6% by 08:07 a.m. London time, led higher by gains across miners and retailers. The UK’s FTSE 100 index gained 1.3% following Monday’s holiday, boosted by figures which showed that food inflation in Britain cooled to lowest level in almost a year in August.

While European stocks are still in positive territory for the year, the momentum has waned in August with the benchmark down 2.8% on the month as worries over higher interest rates for longer and a crisis in China’s property market has dampened sentiment. Basic resources and autos, the two cyclical sectors, have seen the biggest losses so far this month.

 

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