European indices closed collectively higher at the end of Wednesday's trading session, with the market absorbing US inflation data that was lower than expected.
The European Stoxx 600 index ended trading higher by 0.6%, with most major sectors and markets remaining in positive territory. Utility stocks led the gains, rising 1.7%, while oil and gas stocks fell 0.9%.
The German DAX index closed with an increase of about 0.85%, the French CAC index gained by about 0.17%, while the British FTSE index rose and closed with an increase of about 0.21%.
According to recent data, inflation in the United States slowed slightly last month, according to US government data published on Wednesday.
The Labor Department said in a statement that the annual consumer price index reached 3.4% in April, down 0.1 percentage point from March. This was in line with the average expectations of economists surveyed by Dow Jones Newswire and the Wall Street Journal. The monthly inflation rate was 0.3%, which is slightly less than Expectations.
