European equities rose on Thursday, rebounding from the nearly two-year low hit at the start of the session after US inflation data reinforced bets that the Federal Reserve will raise interest rates.
The pan-European Stoxx 600 index swung up and down during the session before closing up 0.9% and ending a six-day loss.
The data showed that US consumer prices rose more-than-expected in September, raising the prospect that the Federal Reserve will raise interest rates for the fourth consecutive time by 75 basis points next month.
The Stoxx 600 index fell 4.3% in the previous six sessions, amid market concerns over central bank moves to tighten monetary policy to curb high prices and in light of recent warnings from the International Monetary Fund and the World Bank on the recession.
Of the sectors listed on the Stoxx Index, the financial sector was the biggest stimulus for the index, while technology stocks rose from their lowest levels since May 2020, recorded at the start of the session, and rose 0.3. %.
The index was also boosted by gains in the energy and industry sectors. Chip makers made up for their losses, gaining between 0.9% and 3%.
Norwegian aluminum producer Norsk Hydro jumped 6.7% after reporting that the US was considering imposing restrictions on Russian aluminum imports. (Reuters)
