European markets closed higher on Wednesday as global markets digested data out of the U.S. and China.
European markets
The pan-European Stoxx 600 closed up 0.4%. Technology stocks added 2.2% to lead gains as the majority of sectors and major bourses ended the session in positive territory.
A soft U.S. inflation reading on Tuesday boosted hopes of the Federal Reserve nearing the end of its interest rate-hiking cycle.
The October consumer price index was flat month over month, while the core CPI — which excludes volatile food and energy prices — rose 0.2%. Economists surveyed by Dow Jones were expecting a 0.1% monthly rise in CPI, and 0.3% in core CPI.
Overnight, Hong Kong stocks led Asia-Pacific markets higher after upbeat economic data from China, which reported better-than-expected retail sales and industrial data for October. U.S. stocks, meanwhile, were higher in early deals.
In other news, U.S. President Joe Biden and China's President Xi Jinping are expected to meet in person in San Francisco on Wednesday, marking the first meeting of the leaders in about a year.