European Stocks Rally as Eurozone Inflation Cools More Than Expected

European stocks were rallying to close out the week after inflation data from the eurozone showed price-growth cooling more than expected across the bloc, though inflation remains hotter than across the Atlantic in the U.S. The Paris CAC 40 advanced 1.1%, with Frankfurt’s DAX jumping 1%, and the pan-European Stoxx 600 surging 1.2%. The harmonized European Union consumer-price index (CPI) for September rose 4.3% year-over-year, down from 5.2% in August and below the 4.5% print expected among analysts surveyed by FactSet. The latest inflation data should support expectations that the European Central Bank is more likely to pause its campaign of interest-rate hikes, which have threatened to hit the brakes hard on economies across Europe.