European equities jump to an 11-week high after US inflation data

Stoxx 600 Of 2.8 percent, the largest percent increase in five weeks. All sectors except the energy sector closed strongly, with interest rate sensitive stocks driving the buying madness.

The technology and real estate sectors increased 7.6% and 6.4% respectively, recording their best daily performance in more than two years.

A report from the United States Department of Labor has shown this Consumer prices It rose less than expected in October, pushing the annual increase to below 8% for the first time in eight months. This indicates that inflation has started to decline, allowing the Federal Reserve to reduce the magnitude of its upcoming interest rate hikes.

The Stoxx 600 Index is set to post gains for a fourth straight week as growing hopes that the US central bank will ease its aggressive policy in its war on inflation, as well as post a better-than-expected earnings season, counterbalances the impact of recession fears in Europe.

On an individual level, AstraZeneca was up 2.9% after the drug maker raised its revised full-year earnings forecast after its quarterly earnings and revenues exceeded expectations.

The German Delivery Hero jumped 18.6%, outperforming the STOXX 600 index, after reassuring investors that it will reach a base profit margin in 2023.

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and jumped Stoxx 600 Of 2.8 percent, the largest percent increase in five weeks. All sectors except the energy sector closed strongly, with interest rate sensitive stocks driving the buying madness.

The technology and real estate sectors increased 7.6% and 6.4% respectively, recording their best daily performance in more than two years.

A report from the United States Department of Labor has shown this Consumer prices It rose less than expected in October, pushing the annual increase to below 8% for the first time in eight months. This indicates that inflation has started to decline, allowing the Federal Reserve to reduce the magnitude of its upcoming interest rate hikes.

The Stoxx 600 Index is set to post gains for a fourth straight week as growing hopes that the US central bank will ease its aggressive policy in its war on inflation, as well as post a better-than-expected earnings season, counterbalances the impact of recession fears in Europe.

On an individual level, AstraZeneca was up 2.9% after the drug maker raised its revised full-year earnings forecast after its quarterly earnings and revenues exceeded expectations.

The German Delivery Hero jumped 18.6%, outperforming the STOXX 600 index, after reassuring investors that it will reach a base profit margin in 2023.

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