European Stocks Rise on US Rate Cut Hopes; Asian Markets Rally

European and Asian stocks rose due to optimism that upcoming US inflation data will show a continued slowdown in price increases, potentially leading the Federal Reserve to cut interest rates as early as September. This positive sentiment was fueled by lower-than-expected US producer price data released earlier in the week. While financial stocks performed well, mining stocks declined on concerns about Chinese demand. The US dollar remained steady, while the British pound weakened after UK inflation data came in below expectations.