European Shares Rise as Investors Await US Inflation Data

Brussels, January 12 (QNA) – European shares edged higher on Thursday amid caution ahead of US inflation data that could sway the monetary policy direction at the worlds largest economy.

The pan-European STOXX 600 rose 0.3%, while the rate-sensitive tech sector fell 0.6% and Logitech International dropped 13.8% after posting lower earnings and sales between October and December.

British retailer Tesco fell 0.9% on keeping its full-year profit guidance after it joined retail rivals in reporting stronger than expected Christmas sales.

Europes largest sugar producer Suedzucker gained 2.3% on posting a 73.5% jump in quarterly earnings.

The focus is on US inflation data due Thursday, after Federal Reserve policymakers said this week the reading will help them decide on whether they can slow the pace of rate hikes.

(QNA)

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