European shares rise but stubborn inflation cap gains


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Traders work on the floor of the New York Stock Exchange at the Opening Bell in New York, New York, USA, 28 February 2023. European shares rose on Thursday boosted by consumer staples and energy stocks, but data suggesting euro zone inflation remained stubbornly high bolstered fears of more European Central Bank rate rises. The continentwide Stoxx 600 reversed early losses and closed 0.5 per cent higher. Energy stocks rose 1.4 per cent supported by firm crude prices on signs of a strong economic rebound in top crude importer China. A sharp weakness in sterling lifted UK’s exporter-heavy FTSE 100...