Europe stocks climb

European stock markets were higher Thursday amid hopes that the drama over the U.S. debt ceiling was entering its final stages.

The benchmark Stoxx 600 was up 0.3% in afternoon trading, paring earlier gains but pulling away from its lowest level for two months. Most sectors gained, with media stocks up 1.6% and mining stocks up 1.3% after Chinese factory activity beat expectations. Utilities, which have benefited from recent uncertainty, slipped 0.4%.

On the data front, investors are analyzing flash euro zone inflation figures, which showed inflation falling more than anticipated. The consumer price index was up 6.1% from the previous year, which was less than the 6.3% anticipated by economists polled by Reuters. Inflation was at 7% in April.

Fidelity European Trust PLC (LON:FEV) aims to be the cornerstone long-term investment of choice for those seeking European exposure across market cycles.

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