European shares rise as soft UK inflation print lifts sentiment
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Feb 14 (Reuters) - European shares edged higher on Wednesday as a softer-than-expected UK inflation print boosted hopes of imminent rate cuts by the Bank of England, while investors looked ahead to more economic data from euro zone later in the day.
The pan-European STOXX 600 was up 0.1% by 0813 GMT, while UK's benchmark index gained 0.5% after British consumer price inflation grew at a slower pace than expected in January.
Investors will now shift focus to GDP data from the euro area, due at 1000 GMT, which is expected to show that the region's economy grew 0.1% in the fourth quarter, unchanged from a year-ago period.
ABN Amro was among the top performers, rising nearly 6% after the Dutch lender reported fourth-quarter net interest income slightly above expectations.
Shares of Coca-Cola HBC climbed 5.6% as the Switzerland-based bottler forecast its annual profit to expand after reporting a record 2023 full-year profit.
Thyssenkrupp slid 4.8% after the company cut its annual sales and net profit forecast, blaming softening demand and prices at its materials and steel divisions.
Heineken slumped 5% as the Dutch brewer forecast operating profit growth of low- to high-single digits in 2024, citing volatility in geopolitics and economic conditions.
(Reporting by Shubham Batra in Bengaluru; Editing by Sherry Jacob-Phillips)
