European markets close higher as attention shifts to U.S. data
Istanbul, July 10 (Hibya) - European stocks closed higher Wednesday as investors turned their attention stateside after a week of political drama.
The Stoxx 600 index provisionally closed 0.93 percent higher, as almost all sectors ended in the green. Retail topped gains, up 1.6 percent, as chemicals stocks slipped 0.18 percent.
Norwegian tech group Kongsberg topped gains, up 11 percent, after reporting a 21 percent rise in operating revenue.
France’s CAC 40 index finished 0.86 percent higher as traders assessed the implications of a hung parliament and a period of political uncertainty in France.
Asia-Pacific markets were mixed Wednesday, even as key Wall Street benchmarks rose following dovish comments from U.S. Federal Reserve Chairman Jerome Powell Tuesday. Powell cautioned that keeping rates elevated for too long “could unduly weaken economic activity and employment.”
The monthly U.S. consumer price index will be released on Thursday, followed by the producer price index on Friday. Both prints and whether they surprise the upside or downside will be key gauges of the interest rate outlook. The S&P 500 rose slightly on Wednesday.
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