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.
