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.
Canadian Market Remains In Negative Territory After Weak Start
Swiss Market Ends Modestly Higher After Mild Struggle
Major European Markets Close On Positive Note
U.S. Producer Price Growth Far Exceeds Estimates In July
U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000
UK GDP Rises More Than Expected
Bay Street Likely To Open On Mixed Note
