UK's FTSE 100 ticks higher on energy boost; hot inflation report limits gains
EWU•The FTSE 100 rose 0.1% to 10,752.88 points, supported by oil majors and financial stocks, while hotter-than-expected inflation reinforced expectations of a Bank of England rate hike. The FTSE 250 gained 0.3%.
1. UK stocks edge higher
The FTSE 100 rose 0.1% to 10,752.88 points, ending a two-session decline, while the FTSE 250 advanced 0.3%. BP and Shell were among the biggest boosts to the blue-chip index.
2. Inflation and rates
UK inflation rose to 3.5% in September, above economists’ expectations of 3.4%. Money markets were near certain of a 25-basis-point Bank of England rate hike in November.
3. Company moves
Aberdeen Group fell 4% after flagging a slower-than-expected return to adviser-segment inflows. Halfords dropped about 8.6% after reporting first-half results.
