European Shares Rise Ahead Of US Inflation Report

European stocks were seeing modest gains on Tuesday after data showed wholesale prices in Germany fell by 3.6 percent in November compared with the same month last year.

Separate data showed British wage growth slowed more than expected in the three months to October, providing some encouragement for the Bank of England ahead of its final meeting of this year later this week.

The ZEW indicator of economic expectations for December is due later in the day.

The dollar dropped and Treasuries gained ahead of key U.S. consumer price inflation data for November due later in the day.

The pan European STOXX 600 was marginally higher at 473.96 after rising 0.3 percent in the previous session.

The German DAX edged up marginally, France’s CAC 40 rose 0.2 percent and the U.K.’s FTSE 100 was up 0.8 percent.

AstraZeneca gained 1.3 percent after it agreed to buy Icosavax Inc, boosting its vaccine portfolio with an ‘innovative’ treatment for respiratory viruses.

Headlam Group shares plunged 5.5 percent. The floor coverings distributor has agreed for a settlement with insurers for the Kidderminster building, which was destroyed by a fire in 2021.

Online investment platform Hargreaves Lansdown plummeted 8.6 percent after the U.K. regulator warned of possible intervention on client charges.

Automaker Renault declined 2 percent after saying it would sell 5 percent tranche of Nissan stake under a share buyback program.

Hannover Re rose 1.8 percent after the reinsurer said it expects higher earnings for full year.

Carl Zeiss Meditec shares soared 7 percent after the medical technology company beat annual revenue expectations.

Nokia rose half a percent despite cutting its operating margin guidance.

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