European shares edge higher; softer pound lifts UK's FTSE 100

Britain's pound inched lower after data showed labour market weakened even as wage growth stayed strong in July, painting an unclear picture ahead of the Bank of England's decision on rates next week. In Germany, wholesale prices in August fell for a fifth consecutive month due to lower prices for mineral oil products, data from the federal statistics office showed.

European shares inched higher on Tuesday, tracking overnight gains on Wall Street, while Britain's export-focussed FTSE 100 was supported by a weakening pound following UK's mixed labour market report.

The FTSE 100 gained 0.3%, while Europe's STOXX 600 added 0.2%. Britain's pound inched lower after data showed labour market weakened even as wage growth stayed strong in July, painting an unclear picture ahead of the Bank of England's decision on rates next week.

In Germany, wholesale prices in August fell for a fifth consecutive month due to lower prices for mineral oil products, data from the federal statistics office showed. Germany's DAX slipped 0.2%, lagging regional peers as weakness in information technology stocks weighed on the index.

Healthcare stocks led gains on the pan-European STOXX 600, with Getinge AB climbing 3.7%. Shares of Associated British Foods rose 1.6% after the Primark owner raised its full-year profit outlook for the second time in four months, underpinned by strong trading at its fast-fashion clothing and food operations.

 

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