Millicom gains after JP Morgan upgrade
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German retail sales fall unexpectedly in Feb
STOXX 600 up 0.3

March 28 Reuters European shares inched higher on Thursday, heading into the long Easter weekend, propped up by gains in JD Sports after reiterating its annual profit forecast, while the benchmark index eyed a second consecutive quarter in the green.

The panEuropean STOXX 600 edged 0.3 up and eked out a fresh record high, as of 0940 GMT. The index has, however, remained rangebound for nearly four sessions.

The benchmark index is eyeing a second straight quarter of gains, up 7 so far, fuelled by a rally in technology stocks on the back of artificial intelligence fervour and interest rate cut signals from major central banks.

A resilient economy and sticky inflation picture will prevent any meaningful rally. But expectations of the start of an easing cycle will prevent a meaningful selloff. Hence, we are in a rangebound environment, said Mohit Kumar, chief economist Europe, at Jefferies.

Market focus now squarely remains on the U.S. personal consumption expenditure data, due on Friday when markets are closed, to ascertain the Federal Reserve39;s timing of rate cuts, potentially setting the tone for other central banks.

JD Sports climbed nearly 6 to the top of STOXX 600 as the sportswear retailer said its pretax profit for the year ahead was in line with its guidance.

The stock lifted the broader retail sector up 0.7…