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The STOXX 600 rose 0.1% by 0720 GMT. Shares of British software maker Aveva Group Plc climbed 3.3% to top the benchmark index.
French industrial group Schneider Electric (EPA:SCHN) rose 0.9% as Sky News reported late on Monday that it is nearing a deal to take full control of Aveva for about 3.5 billion pounds ($4.1 billion).
UBS Group AG (SIX:UBSG) rose 1.1% on plans to hike its dividend by 10% to $0.55 per share.
All eyes will now be on the release of U.S. inflation numbers later in the day, with analysts expecting inflation to have peaked.
