European shares inch higher ahead of US inflation data
European stocks edged higher on Tuesday, led by automobiles and basic resources shares, as investors geared up for a key U.S. inflation report that could offer more clarity on the Federal Reserve's monetary policy outlook.
The pan-European STOXX 600 was up 0.1% by 0810 GMT after a broad-based rally in the prior session.
Along with the U.S.
consumer inflation data due at 1330 GMT (8:30 a.m. ET), investors will keep an eye out for preliminary third-quarter gross domestic product data from the euro zone at 1000 GMT.
Automobiles gained 0.8%, while basic resources jumped 1%, led by a 3.4% advance in Glencore.
The company agreed to buy a 77% stake in Canadian miner Teck Resources' steelmaking coal business for $6.93 billion in cash.
German online takeaway food company Delivery Hero topped the STOXX 600 with a 6% jump after slightly raising its full-year outlook.
