European shares inch up ahead of US inflation data
2023.12.12 05:05
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 6, 2023. REUTERS/Staff/File Photo
(Reuters) – European shares inched up on Tuesday as investors drew comfort from softer-than-expected UK wage growth data and looked forward to a crucial U.S. inflation report later in the day.
The pan-European was up 0.1% as of 0814 GMT and is eyeing a three-day winning streak.
British wage growth slowed more than expected in the three months to the end of October, steering a 0.4% gain in UK’s benchmark index.
All eyes will now be on the U.S. Consumer Price Index (CPI) report at 1330 GMT, with the Federal Reserve’s two-day policy meeting kicking off during the day.
The telecom index led sectoral declines, pulled down by a 2.1% fall in Nokia (HE:) after the Finnish telecom equipment maker revised down its 2026 comparable operating margin target.
Carl Zeiss Meditec jumped 7.1% following the German medical technology group’s higher annual revenue and a more optimistic outlook.
