FTSE 100 Gains As Grocery Inflation Slows Again
(RTTNews) - U.K. stocks rallied on Tuesday and bond yields retreated after comments from Federal Reserve officials indicated that the U.S. central bank could stand pat on interest rates until year-end.
Investors also expect that the Bank of England would not raise interest rates further.
Adding to bullish sentiment, data showed British grocery inflation fell for a seventh month in a row to the lowest rate in more than a year heading into October.
The benchmark FTSE 100 was up 110 points, or 1.5 percent, at 7,602 after finishing marginally lower on Monday.
In corporate news, polling company YouGov soared 20 percent after reporting a sharp rise in pretax profit for fiscal 2023 on improved revenue.
Electricals retailer Currys climbed nearly 3 percent after announcing it has received several non-binding offers from potential buyers for its business in Greece and Cyprus, Kotsovolos.
Croda International was up 2.9 percent after several brokerages raised their target price on the stock.
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U.S. Producer Prices Jump Much More Than Expected In July
U.S. Weekly Jobless Claims Unexpectedly Edge Modestly Lower
Pound Rises On Upbeat U.K. GDP Data
Deere Stock Drops On Revised FY25 Outlook, Even As Q3 Beats Street
FTSE Down Marginally As Stocks Turn In Mixed Performance
