Major European indices trade up
There is growing speculation that the Bank of England will refrain from hiking again at tomorrow’s policy meeting after the release of cooler than expected inflation figures for August.
European Central Bank policymaker Schnabel said that unit labor costs are the largest driver of domestic inflation while policymaker Panetta spoke in favor of countercyclical fiscal policy that would foster public investment.
STOXX Europe 600: +0.7%
Germany’s DAX: +0.7%
U.K.’s FTSE 100: +0.8%
France’s CAC 40: +0.5%
Italy’s FTSE MIB: +1.4%
Spain’s IBEX 35: +1.3%