The US data and ECB rate decision has boosted European shares.
Investors cautiously awaited a monetary policy decision from the European Central Bank and an important inflation report to be released by the United States in the afternoon.
As of 0711 GMT the pan-European STOXX 600 index edged up by 0.1%, to 553.03, with Personal and Household Goods leading with a 0.5% increase.
Kering's 1.5% increase in the sector was a result of the Gucci owner saying it would not buy Italian fashion label Valentino fully until 2028. This will delay the completion of a costly deal that had been burdening the heavily-indebted group.
The European Central Bank will announce its interest rate decision at 1215 GMT.
The majority of economists do not expect a change in borrowing costs, but investors will closely monitor President Christine Lagarde’s remarks to see how the volatile trade and political situation on the continent may influence future easing prospects.
Covestro, among others, rose 6.3% following a report that Abu Dhabi's state oil giant ADNOC was preparing remedies to deal with an EU investigation into its $17.19 billion bid for the company.
Investors will focus on the U.S. consumer price inflation data later in the session. The Federal Reserve is expected to cut interest rates next week, despite the fact that economists expect prices to have increased in August. ($1 = 0.8553 euro) (Reporting from Tristan Veyet, Gdansk; Johann M Cherian, Bengaluru; editing by Mrigank Dahniwala).
(source: Reuters)
