FTSE 100 Modestly Higher After Inflation Data
U.K. stocks were seeing modest gains on Wednesday after data showed inflation rose by less than expected to 3.2 percent in March from 3.4 percent in February, making it likely that the Bank of England will lower its key interest rate later this year.
The benchmark FTSE 100 was up 33 points, or 0.4 percent, at 7,853 after declining 1.8 percent on Tuesday.
Mining giants Antofagasta, Glencore, Rio Tinto and Anglo American rallied 2-4 percent after iron ore futures climbed to their highest levels in more than five weeks.
Fast-fashion retailer ASOS climbed 2.5 percent after backing its guidance for the fiscal year and naming a new CFO.
Saga, a specialist in products and services for people over 50, declined 1.7 percent after it posted a loss before tax of 129.0 million pounds for the year ended 31 January 2024.
Gambling group Entain climbed 3 percent after delivering Q1 online gaming revenue ahead of expectation.
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