Bank of England says in its central scenario UK inflation is projected to peak at 3.2% in Q4 2026.

At the night session open, China’s main futures contracts traded mixed: low-sulfur fuel oil (LU), iron ore and coking coal fell over 1%; paraxylene (PX) and PTA rose more than 1%, and bottle-grade PET chips gained nearly 1%.

European stocks rose in early trade, led by a tech rebound and weaker oil as the Stoxx Europe 600 advanced 0.8% to a record high. Amsterdam's semiconductor-heavy AEX rose 0.2%; ASML gained 3.4% and ASM International jumped 5.4%. Universal Music Group plunged more than 21% after reporting results. The FTSE 100 climbed 0.6%, supported by miners and Sainsbury, which rallied 5.1%. Germany's DAX gained 0.7%, with Infineon up 7%.