European shares rose on Tuesday as investors hoped the U.S. Federal Reserve was nearing the end of its interest rate hiking cycle, while China's policy measures to prop up its battered real estate sector also boosted sentiment.
was up 0.2% by 8:33 GMT, steadying further from last week's sharp declines after notching similar gains on Monday.the end of its rate hiking cycle, with markets now awaiting key data on U.S. consumer prices due on Wednesday for more clarity on whether there has been a considerable slowdown in inflation.Meanwhile, China extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector, helping lift sentiment.
"The largest economy in the world is arriving towards peak rates and at the same time there's hope the second largest economy is getting more stimulus. That's creating a relatively upbeat mood," City Index strategist Fiona Cincotta said. If there was a "surprise" on Wednesday over inflation numbers, "it would be to the upside on core inflation," Cincotta said.
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