European shares rise ahead of US producer price data

European shares rose slightly on Tuesday as investors awaited key US economic data later in the day for clues on the path of US monetary policy.

The pan-European STOXX 600 index rose 0.3% to 500.74 points after ending the previous session flat.

The UK’s FTSE 100 index advanced 0.3%.

Official data showed that wage growth in Britain fell to its lowest level in nearly two years in the second quarter, providing a good sign for the Bank of England that inflationary pressures are easing, while the unemployment rate unexpectedly fell.