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Nov 14 Reuters European stocks gained on Tuesday, led by basic resources as Glencore touched a near twoweek high, while investors geared up for a key U.S. inflation report for more clarity on the Federal Reserve39;s monetary policy outlook.
The panEuropean STOXX 600 added 0.3 by 0930 GMT to touch a near onemonth intraday high following a rally in the previous session.
Along with the U.S. consumer inflation data, which is due at 1330 GMT 830 a.m. ET, investors will also keep an eye out for preliminary thirdquarter gross domestic product data from the euro zone at 1000 GMT.
Core inflation39;s a bit higher, but it39;s okay. Although there39;s the danger that energy prices could spike among others, things seem to be moving in the right direction in the U.S., said Michael Field, Europe market strategist at Morningstar.
The euro zone economy is basically going nowhere at the moment, and we39;re just bidding our time until the ECB starts loosening up rates and then perhaps we can hope that we39;ll start hitting low singledigit GDP growth.
Meanwhile, the European Central Bank ECB is seen holding rates steady well into next year, with a majority of economists polled by Reuters sticking to forecasts that the first cut will have to wait until at least July.
On the contrary, Morgan…