European Stocks Surge as US Inflation Slows More Than Estimated
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European stocks surged to the highest level since late August after US inflation cooled in October by more than projected, fueling optimism that the Federal Reserve can slow the pace of rate increases.
The Stoxx Europe 600 index closed up 2.8% at the highest level since Aug. 25. Technology, real estate and financial services advanced the most as bond yields retreated. The large-cap Euro Stoxx 50 index rose 3.2% to the highest level since April.