UK Wage Growth Surges, Fueling Inflation Concerns
European markets were cautiously higher as investors awaited key U.S. inflation figures later in the week. UK wage growth hit a joint-record high, raising concerns about high inflation. The ZEW German economic sentiment indicator slid further into negative territory. Stocks on the move included Ocado, up 4%, and Dowlais Group, down 7%. The Bank of England may need to tighten monetary policy further to rein in core inflation. European stocks opened in positive territory, following gains in Wall Street and Asia-Pacific.