U.K. stocks gained ground on Wednesday after data showed inflation picked up in March on rising prices for clothing and motor fuel.
Consumer prices advanced 0.7 percent year-on-year, faster than the 0.4 percent increase seen in February, data from the Office for National Statistics revealed.
But inflation was slightly below economists’ forecast of 0.8 percent. On a monthly basis, inflation rose to 0.3 percent, as expected, from 0.1 percent a month ago.
The benchmark FTSE 100 edged up 21 points, or 0.3 percent, to 6,881 after falling as much as 2 percent on Tuesday to suffer its most substantial fall in two months.
Pharmaceutical company Hikma rallied 2.4 percent after announcing it has resumed the launch of its generic version of GlaxoSmithKline’s asthma Advair Diskus in the United States.
Bunzl lost 2.4 percent. The distribution and services firm reported a rise in first-quarter revenue and maintained its outlook for the rest of the year.
Kier Group shares slumped 4 percent. The construction company plans to raise 190-240 million pounds by offering new shares in the coming weeks.
Market Analysis
FTSE 100 Edges Higher In Cautious Trade
2021-04-21 09:32:19
