FTSE 100 Gains Despite Inflation Uptick

2024-11-14 3326
(fxcue news) - Cooling geopolitics helped FTSE 100 overcome the pain of hotter-than-expected inflation to rise above the flatline and track gains across other European markets. Data released by the Office for National Statistics earlier in the day showed annual headline inflation jumping to 2.3 percent from 1.7 percent in the previous month. Markets had expected inflation to record 2.2 percent, breaching Bank of England's 2 percent target. Core annual inflation, month-on-month headline inflation and month-on-month core inflation, all exceeded market expectations. FTSE 100 oscillated between 8,128.44 and 8,087.74 as compared with the previous day's closing level of 8,099.02. The benchmark index of the London Stock Exchange is currently trading at 8,110.67, having added 0.14 percent on an overnight basis. In the 100-scrip index, 35 are trading in the overnight positive zone. Sage Group jumped more than 19 percent amidst the launch of a 400- million-pound buyback programme and strong annual results. Anglo American and Severn Trent, both gained more than 2 percent. Vistry Group erased close to 7 percent amidst a senior level official's exit. Admiral Group declined 3.8 percent. Persimmon, Barratt Redrow, Convatec Group and JD Sports Fashion, all lost more than 2 percent. The GBP/USD pair slipped 0.10 percent overnight to 1.2669. The sterling ranged between $1.2715 and $1.2649 in the day's trade. The EUR/GBP pair has declined 0.23 percent to 0.8336. The GBP/JPY pair has surged 0.55 percent to 197.21. Bond yields in the U.K. hardened more than peers as markets grappled with the prospect of higher-than-expected inflation derailing Bank of England's plans for further monetary easing. Ten-year bond yields hardened 2.2 percent to 4.5430 percent. The yields ranged between 4.5530 percent and 4.5170 percent over the course of the day. The same was 4.4460 percent a day earlier.
Sign In via X Google Sign In via Google
This page link:http://www.fxcue.com/336317.html
Tips:This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement:Contact us if the content violates the law or your rights

Please sign in

关注我们的公众号

微信公众号