FTSE 100 Modestly Higher In Cautious Trade
(RTTNews) - UK stocks are up in positive territory a little past noon on Wednesday with investors digesting the nation's inflation data and looking ahead to the Federal Reserve's rate decision, due on Wednesday, and the Bank of England's policy announcement due later today.
The BoE is widely expected to hold rates unchanged tomorrow.
The benchmark FTSE 100 was up 22.77 points or 0.25% at 9,218.43 a little while ago.
Marks & Spencer is up 4.2%, and Centrica is gaining about 3.5%. Admiral Group is up 2.5%, and Babcock International is advancing 2%.
Segro, Coca-Cola Europacific Partners, Convatec Group, IAG, The Sage Group, United Utilities, Phoenix Group Holdings, Sainsbury (J), Prudential, Pearson, Spirax Group, Beazley and Associated British Foods are up 1 to 1.8%.
Fresnillo is down more than 4%. Endeavour Mining, Anglo American Plc, Antofagasta, Rio Tinto and Glencore are down 0.7 to 1.8%.
BP, Shell, Smith & Nephew, Compass Group and Weir Group are also weak.
Data from the Office for National Statistics showed UK consumer prices logged a steady increase in August, rising 3.8% on a yearly basis, the same increase seen in July. The data also came in line with economists' expectations.
The 3.8% inflation was the joint-highest recorded since January 2024, when the rate was 4%.
On a monthly basis, the CPI moved up 0.3%, following a 0.1% rise in July.
Core inflation that excludes prices of energy, food, alcohol and tobacco eased to 3.6% from 3.8% in July.
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