FTSE 100 Marginally Higher As Producer Inflation Falls More Than Expected

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FTSE 100 Marginally Higher As Producer Inflation Falls More Than Expected

(RTTNews) - U.K. stocks were marginally higher on Wednesday after data showed producer price inflation in the county fell to its lowest rate in almost a year last month.

The corresponding index rose 16.5 percent in the year to December 2022, down from 18 percent in the year to November, and 20.2 percent in the year to October.

The benchmark FTSE 100 was up 8 points at 7,765 after declining 0.4 percent the previous day.

Insurer Aviva rallied 2.7 percent after reiterating its guidance for dividends and capital returns.

Airline EasyJet soared 10 percent as it forecast a return to an annual profit after three years of pandemic losses. Wizz Air shares traded up more than 6 percent. Russia-focused gold miner Polymetal International slumped 4.6 percent after unveiling its production results for Q4 and FY 2022.

Fresnillo dropped 1.4 percent despite reporting a solid operating result in the fourth quarter.

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UK Q3 GDP Growth Confirmed At 0.1%

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The UK economy registered a meager growth as initially estimated in the third quarter, the Office for National Statistics said on Monday. Gross domestic product grew by unrevised 0.1 percent sequentially, following the second quarter's 0.2 percent expansion. The growth was driven by increases in services and construction, while industrial output contracted.
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The British pound strengthened against other major currencies in the European session on Monday.
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Australian Dollar Rises After PBoC Rate Decision

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European Economic News Preview: UK Revised GDP Data Due

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Revised GDP from the UK is the top economic news due on Monday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP data for the third quarter. The initial estimate showed that the economy grew 0.1 percent sequentially, following the prior quarter's 0.3 percent expansion.
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China Keeps Key Interest Rates Unchanged

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China maintained its benchmark interest rates for the seventh straight month, as widely expected, on Monday. The People's Bank of China left its one-year loan prime rate unchanged at 3.0 percent on Monday. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
RTTNews | il y a 4h 50min