European Shares Rise on Higher Crude Prices Amid Key U.S. Inflation Data

European shares opened higher influenced by rising crude oil prices and anticipation of U.S. inflation data crucial for global monetary policy. The STOXX 600 index increased by 0.4%, while energy stocks jumped 1%. Banks also saw gains. Nokia's shares rose due to its acquisition of Infinera Corp.

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) June 28 (Reuters) -

European shares opened higher on Friday, as firmer crude oil prices lifted energy stocks, though the focus was also on a U.S. inflation print, which could be key in gauging the global monetary policy path. The pan-European STOXX 600 gained 0.4% as of 0710 GMT, after closing lower for the last three sessions.

Energy gained 1%, tracking higher crude prices, while banks advanced 0.8% early in the session. The U.S. personal consumption expenditures (PCE) data - the Federal Reserve's preferred inflation measure- is due at 1230 GMT and could play a key role in gauging the central bank's interest rate outlook.

On the continent, French consumer prices rose 2.5% year-on-year in June, in line with expectations, as per preliminary data. Among individual stocks, Nokia added 3.5% after the Finnish firm agreed to buy Infinera Corp in a deal with an enterprise value of $2.3 billion.

Britain's largest sportswear retailer JD Sports fell more than 5% after U.S.-based Nike forecast a surprise drop in 2025 revenue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)