FTSE 100 Holds Steady As Shop Price Inflation Falls
(RTTNews) - U.K. stocks were little changed on Tuesday after data showed U.K. shop price inflation weakened to a near two-year low in February.
According to the British Retail Consortium, the shop price index posted an annual increase of 2.5 percent on a yearly basis in February, slower than the 2.9 percent rise in January.
This was the lowest since March 2022. The rate was also below the 3-month average of 3.3 percent.
The benchmark FTSE 100 was marginally higher at 7,686 after falling 0.3 percent in the previous session.
A softer dollar lifted mining stocks, with Anglo American climbing 2.7 percent.
Asset manager Abrdn soared almost 5 percent after narrowing its full-year losses and announcing plans to cut around 500 jobs as part of a cost reduction program.
Medical device giant Smith & Nephew rallied 2.5 percent after posting improved financial results for Q4 and full year 2023.
Australian Market Maintains Early Gains In Mid-market
Asian Markets Trade Mostly Lower
Indian Markets Closed For Gandhi Jayanti
Thai Stock Market May Extend Thursday's Gains
Indonesia Stock Market Overdue For Support
Japanese Market Significantly Lower
Australian Market Notably Higher
