U.K. stocks were marginally higher on Tuesday after San Francisco Fed President Mary Daly said cuts to the U.S. central bank’s benchmark rate are likely to be appropriate next year because of an improvement in inflation.
The Fed must make sure “we don’t give people price stability but take away jobs,” Daly told the Wall Street Journal in an interview.
The benchmark FTSE 100 was up 8 points, or 0.1 percent, at 7,623 after rising half a percent on Monday.
Superdry shares slumped 17 percent. The fashion retailer has warned of a hit to annual profit, citing challenging trading environment.
Netcall jumped more than 4 percent. The software firm said that its trading for the first half of fiscal 2024 has been in line with management expectations.
Specialist finance provider Time Finance declined 2 percent despite reporting increased revenues and profitability in its half-year results.
Banknote printer De La Rue plummeted 7.4 percent after reporting a wider loss-before tax for the first-half, amidst a decrease in revenue.
FTSE 100 Marginally Higher On US Rate Cut Hopes
2023-12-19 09:37:51
