European markets drift upwards, but without conviction. Traders are waiting for signals from the European Central Bank, possibly as early as next week, about future economic stimulus, as European inflation and retail sales continue to disappoint. Worries over the Ukraine keep the markets subdued, and in some cases, volatile, especially Germany which trades heavily with the countries to the East. German airline Lufthansa has troubles with striking pilots at its budget subsidiary German Wings and the market keeps a wary eye on volcanic eruptions in Iceland which have the potential to disrupt air traffic. British supermarkets in a swoon after profit warning and slashed dividend at market leader Tesco.

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