European stocks rise before the release of US inflation data

European stocks opened higher on Thursday before an important report on inflation in the United States will provide indications about the path of interest rate cuts that the Federal Reserve may follow, and shares of basic resource companies led the gains.

The European STOXX 600 index rose 0.6 percent by 8:10 GMT.

Market traders are awaiting an important report on inflation in the United States to estimate the timing of the interest rate cut from the US Central Bank, which will contribute to setting indicators for other central banks to follow.

The European technology sector index rose 1.2 percent, tracking the rise of the Nasdaq, which is loaded with shares of major technology companies.

Shares of basic resources companies gained 1.4 percent, driven by a rise in gold and copper prices as the dollar fell.

Fat Group shares rose 3.8 percent after the Swiss valve manufacturer announced strong orders for the fourth quarter.

The broader industrial goods index rose 0.8 percent.