Investors are pinning hopes that the Federal Reserve, the European Central Bank and Bank of England all will tone down their hawkish stances to help prevent a potential recession.
At 13:47 GMT, the pan European Stoxx 600 index was up 1.6% to 443.92. The U.K.'s FTSE 100 index added 1% to 7,521.96. France's CAC 40 index rose 1.8% to 6,770.09. Germany's DAX index added 2.1% to 14,612.15. Switzerland's Swiss Market index grew 1.25% to 11,171.80.
The US Bureau of Labor Statistics reported on Tuesday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.1% on a yearly basis in November from 7.7% in October. This reading came in below the market forecast of 7.3%. The annual Core CPI, which excludes volatile food and energy prices, declined to 6% from 6.3% in October.
France's national statistics bureau said that in the third quarter, there was a 1.6% improvement in employment with the addition of 430,800 jobs.
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