ECB President LAGARDE said the wage tracker shows wage growth is moderate.

REUTERS SURVEY: copper market expected to record a 112,000-tonne surplus in 2026; a 50,000-tonne surplus is forecast for 2027.

Shanghai Municipal Development and Reform Commission and other departments issued measures to bolster tech finance, including deepening a bond-market "technology board." The package promotes local deployment of policy tools—private-enterprise bond risk-sharing, the national financing guarantee fund—and urges financial institutions to develop credit-risk mitigation instruments to form a central-local coordinated credit enhancement framework supporting tech-innovation bond issuance. The measures call for using Shanghai interest-subsidy programs to back eligible issuers and for product innovation, including support for tech convertible bonds and other equity-debt linked instruments.