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European stocks rose on Tuesday, led by auto and basic resources shares, as investors awaited US inflation data that may provide a clearer picture of the Federal Reserve’s monetary policy outlook.
By 0810 GMT, the European STOXX 600 index rose 0.1 percent after a broad rise in the previous session.
In addition to US inflation data scheduled to be released at 1330 GMT (8:30 AM EST), investors are awaiting preliminary GDP data for the third quarter in the euro zone at 1000 GMT.
Automotive sector shares rose 0.8 percent, while basic resources shares jumped 1 percent, led by Glencore, which increased 3.4 percent.
The company agreed to buy a 77 percent stake in the Canadian mining company Tech Resources, a subsidiary of Tech Resources Ltd. to produce coal used in the steel industry, for $6.93 billion in cash.
The German company Delivery Hero, which sells ready-made meals online, topped the STOXX 600 index with a six percent jump after it slightly raised its expectations for the full year.
