European Stocks Maintain Gains for Third Day in Row

European stocks finished Wednesday higher, extending its weekly gains after rising for the third consecutive session.

Inflation data in the United States, which came below market expectations, helped reduce concerns about a surge in inflation and reflected positively on investors’ sentiment.

The STOXX Europe 600 index closed higher by 0.38% at 422.02 points. The chemicals sector led the gains as it added 1.8%.

The German benchmark index DAX gained 0.71%, while the French CAC40 surged by 1.11%.

On the other hand, the UK’s FTSE100 finished marginally lower by 0.07%.