European Shares Modestly Higher As Oil Prices Ease

European stocks were broadly higher on Thursday as oil prices slipped on expectations of weakening demand and softer U.S. inflation data eased concerns over the possibility of a near-term Federal Reserve rate hike.

The British pound was coming under selling pressure after official data showed the U.K. economy expanded at a slower pace in the second quarter.

U.K. real gross domestic product grew 0.4 percent from a quarter, following first quarter’s 0.6 percent expansion, according to data from the Office for National Statistics. The pace of growth matched expectations.