European equity markets are holding near record highs as investors await the US July Consumer Price Index report, expected at 3.4% year-over-year. The US-Iran conflict, now in its sixth month, has pushed Brent crude to $89.45 per barrel, benefiting the aerospace, defence, and energy sectors which each gained 0.9%, while luxury goods and healthcare declined. The STOXX Europe 600 is hovering around 660 points, posting a nearly 12% year-to-date gain, but its near-record position leaves limited margin for error if inflation data disappoints.
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