European stock markets bounce ahead of eurozone inflation

European stock markets bounce ahead of eurozone inflation

European stock markets rose on Wednesday, supported by the good behavior of technology stocks after three days of falls, with attention focused on the eurozone inflation figures that will be published during the session.

The pan-European STOXX 600 index was up 0.4% by 0716 GMT, snapping three straight days of losses. However, the index is headed for a monthly loss of almost 4%.

Interest-rate sensitive technology stocks, which had fallen for three straight days on expectations of aggressive rate hikes around the world, rose 2.1%.

Among individual stocks, Italian luxury group Brunello Cucinelli fell 3.9% after publishing its half-year results.

Dormakaba Holding fell 2% after the Swiss security group predicted organic growth slightly above its target range, but added that the outlook applies only to the first half of 2022/23.

The gains were also limited by the fact that Russia cut off the flow of gas through the Nord Stream 1 pipeline to Germany on Wednesday.

Attention now turns to the euro zone inflation reading for August, due at 0900 GMT.

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