European shares rise on miners, energy boost ahead of key inflation readings By Reuters


© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 7, 2023. REUTERS/Staff/File Photo


(Reuters) – European shares rose on Thursday, led by miners and energy stocks, as investors geared up for key inflation prints out of the United States and euro zone to back expectations global interest rates have peaked.

The pan-European was up 0.1% by 0810 GMT, eyeing its biggest monthly gain since January.

Miners gained 0.4% tracking higher prices, while energy stocks rose 0.9% as oil prices climbed ahead of an OPEC+ meeting.

The Federal Reserve’s preferred inflation gauge – personal consumption expenditure price index – and Europe’s HICP inflation are due during the day.

Dutch insurance company ASR jumped 11.8% after raising target for run-rate cost synergies from the transaction with Aegon (NYSE:) Nederland. The insurance sector was up 0.4%.

OCI dropped 7.4% after Jefferies downgraded the chemicals producer to “hold” from “buy”.

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