FTSE 100 climbs as easing UK inflation offers comfort

UK's FTSE 100 edged higher on Wednesday to scale a fresh 4-1/2-year high after data showed consumer inflation eased more than expected in December, although worries over tight monetary policy remained as the rate hovered in double-digit territory.

The internationally focussed FTSE 100 (.FTSE) edged 0.1% higher.

The materials sector (.FTNMX551020), which houses miners such as Rio Tinto (RIO.L), were the top gainers with a 1.2% jump as iron ore and copper prices advanced.

Data showed British headline inflation dropped further away from a four-decade peak of 11.1% in October, and is expected to drop to 5% by the end of 2023. But, policymakers are worried that a tight job market would make the journey to lower inflation more painful.

UK's FTSE 100 edged higher on Wednesday to scale a fresh 4-1/2-year high after data showed consumer inflation eased more than expected in December, although worries over tight monetary policy remained as the rate hovered in double-digit territory.

The internationally focussed FTSE 100 (.FTSE) edged 0.1% higher.

The materials sector (.FTNMX551020), which houses miners such as Rio Tinto (RIO.L), were the top gainers with a 1.2% jump as iron ore and copper prices advanced.

Advertisement · Scroll to continue Data showed British headline inflation dropped further away from a four-decade peak of 11.1% in October, and is expected to drop to 5% by the end of 2023. But, policymakers are worried that a tight job market would make the journey to lower inflation more painful.

The domestically oriented FTSE 250 (.FTMC) added 0.2%.

Shares of Currys (CURY.L) rose 2.7% after the retailer retained its recently downgraded full-year financial forecast though it noted further deterioration in trading at its Nordics business during Christmas.

Shares of Currys (CURY.L) rose 2.7% after the retailer retained its recently downgraded full-year financial forecast though it noted further deterioration in trading at its Nordics business during Christmas.

مواضيع مرتبطة
التعليقات
or

For faster login or register use your social account.

Connect with Facebook