European shares rise, led by gains in energy sector

European stocks opened higher on Friday as energy shares advanced on higher crude oil prices, but markets were focused on U.S. inflation data that could be crucial to determining the direction of global monetary policy.
By today’s session, the European Stoxx 600 index rose 0.4%, after closing lower in the past three sessions.
Energy stocks rose 1 percent, tracking higher oil, and the banking sector advanced 0.8 percent in early trading.
Personal consumption expenditures data in the United States, the Federal Reserve’s preferred inflation measurement tool, is scheduled to be released in today’s session, and the data may play a major role in determining the path of US interest rates.
In Europe, consumer prices in France rose 2.5 percent year-on-year in June, in line with expectations, according to preliminary data.
On the corporate stocks front, Nokia shares jumped 3.5% after the Finnish company agreed to buy Infinera in a $2.3 billion deal.
But the shares of JD Sports, the largest sportswear retailer in Britain, fell by more than five percent after US-based Nike predicted a sudden drop in revenues in 2025.