European markets close higher as investors weigh economic outlook

The pan-European Stoxx 600 closed 0.5% higher, with tech stocks adding 2.2% while insurance stocks slid 0.5%.

Global markets have been weighing the possibility that the Federal Reserve is getting ready to slow the pace of its inflation-fighting rate hikes after economic data last week showed a decline in wholesale prices and retail sales.

On Friday, Fed Gov. Christopher Waller said he favors just a quarter-point hike on Feb. 1, when the central bank gives its next interest rate policy update. Waller also said that rates are already high enough to be slowing the economy.

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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