European stocks gain on inflation slowdown cheer; UK's FTSE outperforms

European stocks rose on Wednesday as investors cheered slowing inflation across major economies, bolstering bets of an end to central bank policy tightening. Just a day after a benign U.S. inflation report supported views that the Federal Reserve may be done raising rates, fresh data showed British inflation also cooled by more than expected in October.

European stocks rose on Wednesday as investors cheered slowing inflation across major economies, bolstering bets of an end to central bank policy tightening.

Just a day after a benign U.S. inflation report supported views that the Federal Reserve may be done raising rates, fresh data showed British inflation also cooled by more than expected in October. The pan-European STOXX 600 gained 0.5% by 0810 GMT, while UK's FTSE 100 rose 1%. Both the indexes hit their highest in around a month.

Miners led sectoral gains, with a 1% advance, tracking higher metal prices. Experian jumped 4.2% after the world's largest credit data company reported a higher half-yearly profit, while Swiss eye-care company Alcon dropped 7.2% after posting lower-than-expected third-quarter sales and narrowing its full-year outlook.