European stocks rise ahead of inflation data, central bank meetings

European stocks rose in early trading on Monday and world stocks were just below 13-month highs ahead of key inflation data and U.S. Federal Reserve and European Central Bank meetings later in the week.

After lacking direction during Asian trading, market sentiment picked up in early European trading, as investors waited for U.S. CPI data due on Tuesday.

At 0845 GMT, the MSCI World Equity index was up 0.2% on the day (.MIWD00000PUS), holding just below a recent 13-month high, while MSCI’s Europe index was up 0.8% (.MSER).

Europe’s STOXX 600 was up 0.5% (.STOXX) and London’s FTSE 100 was up 0.3% (.FTSE).

“Inflation is really moving in the right direction in Europe, and everyone’s hoping that this is going to be confirmed also in the U.S. tomorrow,” said Samy Chaar, chief economist at Lombard Odier, describing markets as in “wait-and-see mode.”

This report’s information was first seen on REUTERS; to read more, click this link.