The European market session was highlighted by the release of better-than-expected UK jobs data, driving the pound higher.
Most recently, the Office for National Statistics (ONS) reported that the unemployment rate fell to 3.8% in the three months to April, from 3.9% previously recorded.
The figure was also stronger than expectations for a higher increase at 4.0%.
The most focused component is the average income index which is the main indicator of inflation, showing an increase to the highest level since November 2022.
Average salary growth including bonuses rose by 6.5% year-on-year in the three months to April 2023 compared to expectations for a 6.1% rise.
While salary growth excluding bonuses increased by 7.2%, the highest since June 2021 compared to 6.8% recorded in the previous period.
Disregarding the time of the Covid-19 pandemic, this is the highest reading ever recorded on record.
In addition, the number of jobless claims also contracted by 13,600 in May from an increase of 23,400 in April.
Overall, all three components indicate a strengthening of the UK job market.
