European stocks rose at the start of Wednesday’s trading session, despite escalating geopolitical risks stemming from the Ukrainian war and the faster-than-expected annual inflation rate in the United Kingdom during October.
The pan-European “Stoxx 600” index increased by 0.60% to 503 points. Additionally, the UK’s “FTSE” index rose by 0.18% to 8,114 points, Germany’s “DAX” index climbed by 0.69% to 19,192 points, and France’s “CAC” index gained 0.64% to 7,276 points.
This came despite official data showing that the UK’s annual consumer price inflation accelerated to 2.3% in October, up from 1.7% in September and exceeding expectations of a rise to 2.2%.