European markets on Thursday closed at their highest level since April 2022, despite a choppy afternoon following the release of U.S. inflation data.
European markets
The pan-European Stoxx 600 index provisionally closed 0.7% higher, with most sectors and major bourses in positive territory.
Retail stocks led the gains, up nearly 2%, while chemicals and healthcare stocks were both down around 0.1%.
The December CPI report was in line with economist expectations for a monthly dip of 0.1% but a 6.5% rise year-over-year. That compared to a 0.1% monthly gain in November and an annual pace of 7.1%.
U.S. stocks were lower after the open but swung to a gain toward midday, with the Dow Jones Industrial Average up 0.4%.
Huw Roberts, head of analytics at Quant Insight, told CNBC the inflation print had not given any guidance to markets, and investors may look to speeches from Fed officials on Thursday and Friday for further clues.