FTSE 100 Gains Ahead Of US Inflation Data

U.K. stocks traded notably higher on Wednesday ahead of the release of U.S. CPI data for March, due out later in the day.

Investors will assess whether inflation has cooled sufficiently for the U.S. central bank to start lowering interest rates.

The release of minutes of the Fed’s March policy meeting may also shed light on the Fed’s rate trajectory.

The benchmark FTSE 100 was up 44 points, or 0.6 percent, at 7,978 after closing 0.1 percent lower on Tuesday.

Tesco shares rose 1.2 percent. The supermarket group forecast a further increase in profit in its new financial year after posting an 11 percent jump in profit in 2023/24.

Mining giant Rio Tinto added 1.6 percent as commodity prices advanced on signs of an improvement in global manufacturing activity boosted heavyweight.

Anglo American gained about 1 percent, Antofagasta rose 1.5 percent and Glencore inched up 0.7 percent.

Beauty e-tail giant and e-commerce tech specialist THG fell 2.7 percent after a revenue dip driven by “action to discontinue loss making categories”.

Direct Line Insurance rose about half a percent as it appointed Jane Poole as new chief financial officer.

Business News