Financial stocks lift European bourses; flash GDP data in focus

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 12, 2022. REUTERS/Staff

Aug 17 (Reuters) – European shares rose for a sixth straight session on Wednesday, lifted by financial stocks, with investors focusing on economic growth and inflation data due this week.

The pan-European STOXX 600 (.STOXX) inched up 0.2%, hovering near 10-week highs. All regional markets posted gains.

UK’s FTSE 100 (.FTSE) rose 0.1%. Official figures showed British consumer price inflation rose to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June. read more

The focus was on euro zone flash GDP estimates for the second quarter due at 0900 GMT, and HICP inflation numbers due on Thursday.

Among stocks, Uniper (UN01.DE) fell 8.8% after the German utility reported a first-half net loss of 12.3 billion euros ($12.5 billion), mainly due to lower Russian gas supplies. read more

Switzerland’s biggest life insurer Swiss Life (SLHN.S) rose 1.8% after raising its half-yearly net profit by 4%.

Reporting by Anisha Sircar in Bengaluru; editing by Uttaresh.V

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