European Stock Markets Advance

After a choppy week, European stock markets advance, with Germany’s DAX 40 rising 1.7% in morning trade and the pan-European STOXX 600 rising 1.6%. Investors ignore higher-than-anticipated US CPI data, the possibility of the Federal Reserve tightening monetary policy more quickly, and news that the European Central Bank will begin unwinding its €5.1 trillion asset stockpile by early 2023. Other rumors that the British government would reverse its budgetary policies that shook the financial markets also improved mood.

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