European stocks rose on Tuesday as investors hoped that the US inflation reading, due later in the day, would allow the Federal Reserve to ease its aggressive monetary policy of raising interest rates.

The STOXX 600 Index was up 0.1% at 08:12 GMT.

Technology stocks led gains in the index, up 1.2%, led by semiconductor companies such as ASML Holding and BE Semiconductor.

Banking and energy stocks also led the index, while healthcare stocks fell 0.4%.

Novo Nordisk was down 1%, after an article claimed the drugmaker will delay the launch of its obesity treatment in Europe.

The US Supreme Court on Monday cleared the way for California to enforce the ban on flavored tobacco products, rejecting a petition by a subsidiary of British American Tobacco (BAT) and other plaintiffs to suspend it. BAT shares were down 1%.

The STOXX 600 fell in trading on Monday on jitters over rising COVID-19 cases in China, as well as upcoming interest rate decisions from the Federal Reserve, European Central Bank and Bank of England. this week.

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