FTSE disappoints after inflation rate rise

clock

In London, stock markets closed the day down after news revealing a rise of UK inflation rates in December for the third month in a row.

The FTSE shed 22.8 points to 4823.9 points, afters the annual consumer-price inflation increased to 1.6%, from 1.5% in November, the National Office of Statistics announced, fuelling further speculation of a hike in the interest rate next month. Supermarket giant Tesco also fell 9.50p to 313.75p, even though the firm recorded a 7.5% increase in sales over the Christmas period, because its performance had failed to impress analysts. Catering firm, Compass Group shed 6.50p to 238.50p, after analysts dropped its share rating. Cairn Energy, meanwhile, performed well, adding 52p or 4.7% to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Targeted at sustainable, forward-thinking finance professionals

Professional Adviser
clock 10 May 2024 • 1 min read
Defaqto: 'No appropriate and compliant way to compare MPS portfolios'

Defaqto: 'No appropriate and compliant way to compare MPS portfolios'

Tech firm to debut a performance comparator tracking solutions’ data

Hope Coumbe
clock 09 May 2024 • 1 min read
Assessing investment decisions made in the heat of the moment

Assessing investment decisions made in the heat of the moment

'Investors were panicking, thinking no one would ever go outside again'

Chris Justham
clock 08 May 2024 • 2 min read