FTSE 100 Gains On Inflation Optimism
(RTTNews) - U.K. stocks advanced on Tuesday, with expectations of cooling inflation and encouraging earnings updates helping underpin investor sentiment.
The U.S. consumer price inflation report is due later in the day, while U.K. inflation numbers will be out on Wednesday.
The British pound was little moved as new data showed that U.K. employment rate remained steady in the final three months of 2022.
The benchmark FTSE 100 rose 33 points, or 0.4 percent, to 7,980 after gaining 0.8 percent on Monday.
Coca-Cola HBC rallied more than 3 percent. The consumer-packaged goods business and strategic bottling partner of The Coca-Cola Company reported that its full year 2022 comparable net profit grew by 8.1 percent from prior year, due to higher operating profitability.
Holiday group TUI jumped 3.4 percent. The company said recent bookings for the upcoming summer are running ahead of pre-pandemic levels.
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