news-details

European stocks set for positive open; UK wage growth falls to two-year low

European stocks closed higher last Friday as investors digested economic data from the region including a preliminary U.K. second-quarter GDP reading, July inflation prints out of France, Spain and Italy, and euro zone industrial production for June.

LONDON — European stocks are expected to open higher Tuesday, regaining some positive momentum after last week's volatility.

The U.K.'s FTSE index is seen opening 26 points higher at 8,233, Germany's DAX up 18 points at 17,288, France's CAC 40 up 14 points at 7,259 and Italy's FTSE MIB 62 points higher at 32,084, according to data from IG.

European stocks closed mixed on Monday as forthcoming U.S. and U.K. inflation data dominated investor attention.

U.K. wage data released by the Office for National Statistics on Tuesday showed that pay excluding bonuses grew 5.4% year-on-year between April and June — the lowest rate in two years.

The unemployment rate fell to 4.2% from 4.4%, the ONS also said, while economists polled by Reuters had expected an increase of 4.5%.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market