(fxcue news) - European stocks were flat to slightly higher on Thursday as signs of slowing inflation in the U.S. bolstered the case for the Federal Reserve to start cutting interest rates in September. Investors shrugged off mixed economic activity data from China and eyed U.S. reports on weekly jobless claims, retail sales and industrial production later in the day for more insights about the health of the world's largest economy. Meanwhile, official data showed the U.K. economy expanded again in the second quarter, but the pace of growth moderated slightly due to the contractions in industrial and construction output. Real gross domestic product grew 0.6 percent in the three months to June, following the 0.7 percent expansion seen in the first quarter. The quarterly growth was driven by the widespread improvement in the services sector. The pan European STOXX 600 edged up 0.2 percent to 505.27, hitting a two-week high and marking a third straight session of gains. The German DAX rose 0.4 percent, France's CAC 40 inched up 0.1 percent and the U.K.'s FTSE 100 was marginally higher. Adyen NV jumped 6 percent after the global fintech firm delivered strong half-year results and announced its expansion in India. Orsted, the world's biggest offshore wind farm developer, slumped 7 percent after its earnings report showed significant impairments. Geberit AG, a Swiss maker of sanitary parts and related systems, tumbled 4.2 percent after announcing full-year outlook below expectations. British motor and home insurer Admiral surged 7 percent after posting strong first-half 2024 results. Rank Group shares also soared 7 percent. The owner of Mecca Bingo swung back into the black in the year to the end of June amid a strong year of trading.