European Stocks Rise as US Inflation Eases, Oil Prices Fall

European stocks rose on Thursday as investors welcomed news of easing US inflation. The FTSE 100 in London, however, fell due to a downgrade in production outlook by mining giant Antofagasta.

The decline in oil prices also contributed to the positive sentiment, with Brent North Sea Crude falling 2.1 percent to $87.16 per barrel and West Texas Intermediate dropping 2.2 percent to $81.41 per barrel. The Strait of Hormuz remains a concern for oil markets, but there is no sign of a deal being struck to end the US-Iran war.

The US consumer price index report showed inflation running above target for the 65th consecutive month. Analysts noted that this does not necessarily mean interest rates will be hiked in September as previously expected.

Asian markets were mixed, with Seoul's Kospi jumping 3.6 percent thanks to gains in chipmakers SK hynix and Samsung. The index had tumbled 40 percent by early August but has since recovered about 20 percent.